This might include a higher interest rate to compensate for the added risk and ensure you have clear terms on how repayment will be handled.Getting back into lending can be exciting!

With that kind of fico score, you would be able to secure a rate that is competitive if not beating conventional investment property mortgage rates.

Now ask me out of every 10 GCs you meet, how many operate like this...1 maybe.  

Connect with a local investor friendly agent and start attending local real estate investing meet ups.Good luck!

We still have to network and create a reliable team, so this would serve us as time to meet contractors/agents/other investors/etc...We are planning to start investing ~$200k depending on the deal.I'm writing this post to get some advice from somebody who might be more experienced in New York, and possibly to start creating some connections.

The appreciation rate is far above national average and consistent for buy and hold.

You will quickly learn what meets your needs and what doesn't.

The agreed upon interest rate is 5% amortized over 40 years, but in reality the buyer is reducing that to 30 years by paying 2969.80/month. 

Currently my interest rate is at 3.35%.Several years ago, I relocated to Florida for work and have been renting out the units.

Sounds like you got a winner of a deal there, and all things considered a great interest rate before they shot up in 2022!