It’s like trading baseball cards back in middle school.. you get the shiny new card you’ve had your eye on, and you don’t pay a dime until you finally decide to sell and pocket the profits.

Why not structure your debt in a way you can pay it back.... the attack it.

Now, you're going to pay for that in much higher rates that you'll get in FHA or even Conventional loans, but if you're willing to bite the bullet on that to get started, then it's a great tool to use.

Stuff that is good to look into, it does cost a good amount to pay each month, but there are people who want to sell today and need a quick offer.  

Of these 14 million, 81% will not have the resources to pay for assisted living and care which is now at the cost of $62K annually.

So, my budget then would have to take into account the rent i wont be receiving and i'll be paying the mortgate and expenses out of pocket. 

First off- $4.5M for 48 units and 50% are vacant is not a steal, unless this property is located in a downtown area and you have a contact with a developer who will pay 2X to build a high rise. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.

But then i ran numbers and realized that at current rates i have to pay 4300 (3300 Mortgage, 1000 Prop taxes ,900 HOA) . 

They're probably fine with you paying for additional marketing as long as they aren't cut out of the deal.

Hey,If "building class designation" is the same as zoning, then this seems like it can definitely be appraised as a two family, with both the legal and actual designation as a two family.Depending where in NYC, that may not help your valuation, as primary residences sometimes sell for more than investment properties, so check that out before challenging the appraisal and definitely before paying for another one.Double check all this with your lender/broker as well.Best of luck!