If the building is only selling for mid $400's, you'll have to do some major renovations to get that $700k ARV.

Using a ballpark figure for mid-range B-class turnkey props in Birmingham (let's say $270/month in net cash flow), that's an additional $1000+ toward your loan every month!

LIC, Queens, and Bronx are becoming the refuge area for mid level rents with accessibility to Manhattan.

I generally pay about $3.25 or so for mid level....$4.25 and up for higher end.  

Lot coverage is 75% for mid-block properties (for zones that use lot-coverage).

If not, any suggestions on what locals that I should be considering for mid to late 2019.

Same way as above Max Amount:750KSuitable for mid size MF 5-30 unitsOption 3: Smaller Banks as mentioned above that do a Balloon PS Note their programs may have changed etc but might still be good to do some additional research. 

Sale price is $29,000, comps sell for mid 40's in the area but he's never put it on the market due to our verbal agreement (he's selling over 40 houses).

Here is my situation BP I'm in escrow with a short sale we had a closing date for mid this month but just a few days ago my agent called to tell me that the bank we were dealing is no longer the lender and sold the loan to another bank/institution.

Will need recommendations for mid-level contractors as well in the area, if you know any, thanks!