Now the deed had a time limit on it IE you must remove the timber by a certain date or the Rights to the timber extinguished.

So there is huge risk expecting the 15 year limit to be reality.  

Limiting those expenses is a significant part of landlording!

Based on limited information that is provided, I recommend saving longer, since you are unable to house hack. 

Closing Costs – Remember to factor in refi fees and how long you plan to hold the property to determine if refinancing will save you money overall.Since you mentioned owning the property for only a year, your equity might still be limited, impacting your options or leading to higher costs.

Difficult to defend places -- hillsides with limited transportation options, etc. -- won't be allowed to rebuild at all.

The organization would collaborate with limited partners to help fund the acquisitions, with a long-term goal of buying out the investors over time.

Given your residency limits, the high prices in NYC and surrounding areas are a challenge, but there are still options in neighborhoods further out within your allowed range, like parts of Queens, Brooklyn, and the Bronx.

Also, many tenants are younger and have limited credit history.

Since I bought the duplex, I have noticed that ReadyREI tries to limit property viewing as much as possible, and I believe that the reason for this is clear - it is to hide issues and the condition of the property as much as possible.When I first spoke with Ready REI, I was told that they provide a “turnkey” house, that nothing needed to be done to get it ready for occupancy.