I know this seems low, but the way I see it, this is how much the buyer would potentially walk away with if they posted it on the market and minus all the fees and concessions so I am getting them to that number with none of the hassle and removing the issue of a looming foreclosure.

Here's a big "math" you overlooked for quite a few years.Right now $388k in equity, minus (let's go all out) $100k in closing costs, gets you a walk away of $288k in equity.Use that $288k as a 20% DP, and you should have $1.44M in property value,...not $415k. 

I'm curious as to whether others have walked this mile and whether you have any suggestions on how I can accomplish this. 

Run don't walk

You can too, without being a wholesaler or an agent.You can walk into a mall to a jewelry store and buy gold, which is simple, but you pay a huge markup.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck. 

It appears the laws are not business friendly and if that is the case then they will continue to walk away. 

I would highly encourage paying a GC to walk deals out the gate, have them give a scope of work so you can see what items costs.

Residential investing is not rocket science, knowledge is not the issue: there are many good books out there that walk you through every detail you need to know.

If you really want to dig deep, pretend to be a renter and schedule a walk-through.