Hi Babek,The Goal is not to acquire properties, the Goal is to acquire Good Deals.And that entails knowing what a "Good Deal" is.

Goal one entails completely paying it off this year.

@Timothy Ray Like some others have mentioned, you should consider your property management fees and what these entail.

Born and raised in the Portland, Oregon area entail I went to college in Hawaii.

It sounds like you have a lot of experience, just need to focus it in for larger acquisitions now.Also, consider passively investing in a few syndications to get your feet wet, see what it entails before you commit that that is what your goal is. 

Entering the deep dark waters of REI entails risk, without having the experience of a Realtor or a Lawyer - A risk I'm willing to take for the opportunity of having a different life.

Full disclaimer though, I've only ever done this in NC, so I don't know what differences other states entail. 

In general, smaller buildings in NYC are difficult to manage as they entail a slew of services (rent collection, bookkeeping, maintenance visits, tenant disputes, leasing, local law compliance, payroll, insurance, insurance audits, etc.) that aren't cost effective for the owner of a small building, and the fees aren't enticing enough to afford the best talent in property management space.

I think the biggest problem is that alot of wholesalers are beginners that actually have no idea how much a rehab should cost, what the rehab should entail etc.

Now to be fair selling owner financed dirt did not entail apprasials  home inspections  financing etc. so it was very time efficient.. maximum income for minimum hours spent.Tax sale time I would spend a week tracking all the properties I wanted to bid on .. and then I would follow trustee sales.. that would break up my week.It was fun rewarding and made many lifelong client friends..