Currently cash flows.

A DSCR loan could definitely work, especially if the park’s cash flow can cover the debt.

That looks pretty bad for your cash flow.

It's now converted into a cash-flow positive long-term rental.

The LLC is irrelevant unless you are paying cash or getting a DSCR loan.

Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

Normally we'd use a 1031 exchange, but since the cash of that property is going to be split, I wasn't sure what our options are.

Mostly due to the fact my spouse and I agreed on her to have zero involvment in any sort of RE investing (and its our home) I think once you have a good 6-12 months of reserve cash (operating expenses for your own life saved as a back up incase things go bad) save enough liquidity to get the ball rolling on your first invesment.

Do you have cash reserves for capital expenses and improvements? 

Purchase price: $178,000 Cash invested: $10,000 primary home own use has an Airbnb/ short term rental 5 months out the year/sometime this year will try BRRRR