This is a significant risk to the other two parties that are bringing the deal and the money when they could just as easily hire a contractor and keep the equity for themselves. 

If I had to guess I would say your money could “develop” 1-2 houses in Staten Island but in the right market you could easily get up to 12 or possibly more good units fully paid for.

Or maybe they do now since the last time I used it.It’s an excellent solution for smaller portfolios because you can easily spot discrepancies.

Additionally, make sure you’re familiar with local property laws and any regulations that could impact your investment.I agree with @Jason Wray that you can easily find a cash flowing deal under 200k. 

I am not so much worried about this year but thinking about how easily I could sell a potential property in 10-20 years. 

It's too late after closing for me to help them, but if they had reached out before I could have easily prevented that situation for them.

The property will need to have a slight rehab to get it up to STR standards, but when complete it should easily be a $200k Gross booking revenue property.

Most of the vetting and signing up can easily be done through email and using website.

I see people without capital no experience or capital being taught to “help” desperate homeowners by tying up their property in a contract they have no way to successfully close without finding someone to pay more; costing the homeowner behind on their mortgage payments to lose valuable time that can easily lead to foreclosure; I see a program taught to students to take over a property ‘subject to”, leaving the seller unable to qualify for further mortgage financing, responsible for a loan secured by a property he no longer owns, and all held together by someone with 0 experience, limited or no capital, and no liability.  

No disrespect to anyone, but cant we begin to see the increasing amount of novices with zero cash, poor credit, little income for personal expenses, haven't heard of they're local meetup nor bigger pockets nor which book like Kiyosaki nor Brandon Turner nor Grant Cordone's etc-all about to become millionaires easily.