If the mortgage is projected to be in the $1,400-$1,500 range (give or take), you'll be losing money on the investment. 

You'll win some and you'll lose some, and you'll grow.

No one wants to lose their home. 

I'm pretty sure I'll lose the property if I wait out the foreclosure process.

As long as it’s a bad enough deal that you don’t mind losing it if they say no.

Im pretty sure I will lose lender if I check that box ??

You win some and lose some.

Also, recent newspaper articles have stated the fact that FHA approved condominiums can and are losing their approval if the units in the Condo are being used for short term rentals.The short term market is growing and inventory is diminishing but before diving in do your due diligence. 

Point is unless you understand how every single buyer on your list gets funding every time, you will spend more money trying to do math and lose the deal.

Also in the news this week that NY lost 48,000 in population in the last year:https://www.pressconnects.com/story/news/local/2019/04/18/population-loss-plagues-new-york/3482885002/and several articles have noted that the number of TAXPAYERS in NY is dropping faster than the population:https://www.timesunion.com/local/article/Study-finds-New-York-losing-the-most-tax-payers-9223778.php Draw your own conclusions about this data.