Nearly all of your normal expenses on a property can be deducted from your TAXABLE income but added BACK to your qualifying income for a conventional loan!

It's not just about agreeing on the numbers, you also have to figure out things like: - Financing terms (what rate, duration, amortization schedule)- Balloon payments (sellers typically will require 5yr balloon payment, expectation is you would refinance into conventional financing before then)- Renewal options on above (sometimes sellers can provide another 5 year option to keep seller financing amortization schedule, they can charge a premium for this etc.) - And much more. 

I have 7.625% conventional loan 30 year fixed. 

That is a larger down payment (37.5%) and it might be better to get a conventional loan or DSCR loan.

Househack property (2-4 unit) inventory in the NYC Metro area is up ~40% from last year. 

We’re seeing a big shift on MLS-listed properties now compared to the peak a few years ago: much higher DOM for certain properties, much higher inventory in certain market segments, more price adjustments etc. lot of deals on the MLS these days because buyers aren’t active at all, while some sellers still think it’s 2022, they’re getting greedy and listing way too high then  don’t adjust quickly enough when they have zero showings or offers, and let the listing get stale, then eventually cave when all they’ve got in hand is a blood-sucking offer from someone like us ;).

He states that he attempted to sell the property for months in a market that has "historically low" inventory, and even still, was unable to get anywhere near the sale price.

You are looking at conventional financing for the most part.

Barrier to entry is better than much of CA, rents are high, inventory is low, jobs market is solid.

1 thing I would say is even in Baltimore inventory can be an issue.