Those two areas are very different zip codes and price points for house hacking, what made you select the two? 

Almost all 4 baggers occur through one or more of the following1- Long term hold riding price appreciation.  

Under contract but these buyers are getting a great home, great location, for a good price.

Study the trends, know the neighborhoods, and understand pricing. 

Hi Evan from Sayville, NY-You asked about whether a lender would pay real estate commissions and closing costs with a short sale.I negotiated a lot of short sales after the Great Financial Crisis.Short sales are similar to dealing with a bank owned property accept the bank is trying to avoid taking it back so the terms, specifically an acceptable purchase price, have to be negotiated.The thing I found that was important to negotiate was the lender agreeing to settle without further recourse for the seller.

There is a significant price decrease in the price per watt overall with electric heat.2nd would be to check the type of baseboard heat.

@Robert Brock, I guess my advice is not really any different than I would say to someone wanting to be a residential wholesaler: you need to add value to the transaction.Often times, having the deal tied up is the value, but more often then not, in my limited experience with commercial wholesalers and residential, the wholesaler has no idea what someone will actually pay, so they tie up a deal at too high a price and then add their fee that turns a bad investment into a horrible investment. 

What formula is used when calculating price of property + property taxes + expenses and upkeep - what property will rent for = monthly cashflow?"

What this leads to is higher purchase prices but also higher rents in these areas. 

A key lesson here is buying at the right price; overpaying by $15K can make a big difference.