Well, none of those things are action - they may be worthwhile preparation to take action, but they're not action itself. 

Additionally, I am financially prepared to sustain hard money loan payments for up to two years, which is realistic for resolving occupancy issues in NYC.

Prepare a list of 10 key questions, such as:How long have you been managing properties?

One thing that we were not prepared for was the new lender required that our tenants have a signed lease agreement before we could move forward with the new house.

Time is critical, especially in competitive markets.Clear Offer Terms - Present a firm offer with terms that make the seller feel confident that you can close fast, with minimal contingencies or proof of funds.Due Diligence Preparation - Have your financing lined up and know your repair/rehab costs in advance so you can move quickly without second-guessing.

There will be lots of learning as you go so be prepared to bumps in the road and learn from every experience/situation 

I’m fully prepared that there may be unforeseen costs, but I can’t even estimate properly for your standard cosmetic rehab… have you walked through the property?

This is helpful for monthly bookkeeping and tax return preparation. 

I'd want to know more information to make a good recommendation, but it sounds like you would have a strong argument if everything else is the same except for location.MP tasksTenant Management:Showing properties, screening applicants, and preparing leasesWelcoming tenants and addressing inquiriesCollecting rent and managing evictionsProperty Maintenance:Cleaning, repairs, and inspectionsAdministrative & Marketing:Supervising staff, purchasing supplies, and promoting rentals (ads and website)

I have also considered this, but there's only one shower and I am not prepared to share the shower with a tenant :).