I'm always amazed on how ruggedly built some of these old buildings are ... and equally amused by the fact there were no real building standards, but most of the really blatantly bad bits tend to have come with past "updates" (like the introduction of indoor plumbing or electricity).That said, you make you money on these old buildings when you buy!  

I am using 8% for each to be conservative. 

Veristone is also another lender that I have used and currently am using.

However, if I am using my own money as a private investor and making no commissions from being a lender /Realtor etc..., I will pay a finders fee.  

I am using it as an AirBNB and plan to expand into commerical real estate.

I am using erentpayment.

That's why I am using @Michael Blanks method of analysis using 55% for expenses.This process has already given me a few properties to take a more in-depth look at. 

I am used to only making money the hard way for the past 25 years, by literally busting my knuckles and knees all day with plumbing, wearing filthy dirty clothes and looking like bum, so making money a faster or more easier way seems strange, a little creepy, and somewhat unethical to me, if you know what I mean.

My 3 flips in IL i am using cash from my HELOC

@Edward Sheridan I would echo what others have said... the returns don't look great to me compared to what I am used to here but I see the property is 2 hours from NYC so that may be the best you can do there.