Some brokerages will tell you sweet nothings because they know your sphere of influence will likely produce a couple of sales before a new agent peters out. 

Owner occupant, investment, or commercial would influence the down payment, term, variable or fixed, and interest rate.  

If they are only seeking a check every month and the largest amount possible based on the equity of this other property then sure it's a fine decision.A couple other thoughts though:With a smaller multi-family a vacancy is felt more financially than with a larger one, but the extent of that is influenced by the market's local metro and property location; andWhy not use some of the equity from the property to fund the purchase of the smaller one and then have two properties generate (probably) the same amount of income or more with debt service on both.  

The neighborhood influences value but it doesn't mean that house is 400K. 

In this world of too much information and the need for attention to detail I personally like getting as much information as I can on any given subject; especially if it might impact or influence my personal financial situation which this does. 

Outside influence of family and friends some who do and don't invest have all gave me the assumption it would not be smart for me to invest in yonkers just mainly because of taxes and property price .

I try not to let the negative post influence me!

Any external influences such as short sales, death, divorce, etc that affect a sale price means that property should not be used as a comp.

The book "How to win friends and influence people" had a huge impact on me and frankly I think it gives me an advantage over others who don't practice some of the methods Dale Carnegie presents.

I would keep a close eye on the immigration policies which would influence prices much more than the 15% tax.