i want to go with a lighter color. 

Im unsure of the NY laws as I'm in Missouri, but from my personal and professional experience a good property manager is worth their weight in gold.

Do cardio and weights (not just cardio)4.

I haven't fully decided if to do the license route or just dive, so I am just trying to weight out my options.

I only say that because dealing with contractors is a PITA so if you have one on your team he is worth his weight in gold in my opinion.

My duplexes do receive an income approach to value when appraised, but because it is residential, the comps carry much more weight. 

LOTS of people get down payment gifts from family, and LOTS of lenders & borrowers prefer that gift funds go directly to escrow to keep the paperwork a little lighter (one less round of "source this deposit" and bank statements and transaction histories).

Bottom line is that first, you have to go lighter, second you have significant prep work, and third if you do some searches you'll read lots of people that wish they had not done it.

We're fortunate in that the weighted average interest rate on both her and my student loans are pretty low.

But they are worth their weight in gold.