A GC that works on the job, manages subs, gets permits, works with engineers, designers, etc. will have substantially more time into the project than the rest of you combined, easily. 

Depending on the amount of your profit and the size of the down payment you could simply do the 1031 on the cash you received and take the note as boot.In the right circumstances if you've got access to cash doing a 1031 combined with owner financing can be a great way to multiply your cash flow while deferring a lot of tax.

Fantastically, I found a way to combine the two together and make money while I'm learning! 

A portion of each payment is allocated to return of principle, gain and interest.Most importantly you will recapture all depreciation in the year of your installment sale.Didja know know that in the event that you found yourself needing to do a 1031 there is a way to combine a 1031 exchange with an owner carry note? 

.$0 in repair costs is a stretch- especially if you plan to increase rents...you'll need to justify the higher rent and that typically means improving the condition of the property = $$Your upfront equity position isn't great, but it looks like you'll start with a bit of equity...and if you decide to improve condition you can force the value as your NOI increasesBoilers are find if they are modern...looks like yours was replaced in 2017- definite positive5.3% on the loan doesn't look too bad...your DSCR is 1.15 ...most lenders will require this to be 1.2++ Vacancy is relative to your local market...not sure 5% is the right number to use or not...I look at CapEx different for year 1 and consider it an up-front out-of-pocket expense...but it looks like your units are in good condition so 5% may be right...maybe high...Water and sewer (and other utilities) seems low to me, but it's specific to the area...and maybe just for common areas?...

However, the CLTV or combined LTV of the two loans to purchase will normally not be allowed to exceed their typical LTV limits such as 75%-80%.

I have a pretty high income and relatively little debt (under 15K combined consumer and student loans) so my debt to income is quite good.

Our combined annual income is ~200KWe have investors presentations lined up, but I wanted to go in with a property and what our plans are.But I've been looking for the past two months and can't seem to find anything on LI/NYC, that seems reasonably priced.

I'm looking to see if it would make sense to acquire all of them and combine into a multifamily or flip as individual condominiums. 

In order to find it I used a combination of direct mail and bandit signs which I have to say still work plenty well regardless of the new move towards online marketing but that is another story.