Between her fees and the QBO subscription, we were spending over $500 per month just for bookkeeping.

Another option is rental arbitrage, where someone trustworthy rents from you and handles it as an STR, paying you a fixed monthly rent.In the end, it depends on what you’re comfortable with and your financial goals.

We are based in Orange County, NY which is right over the border from NJ.

Investing out of state is a great option if you can't do anything locally.

Here’s a brief breakdownof a few options:     Land Loans: These loans arespecifically designed for purchasing raw, undeveloped land.

I want to do a straight finance since I find the other options to risky.

However, if you plan to rehab at all, you will then need a licensed contractor to provide bids on each project you plan to rehab.You will then be asked to provide a proof of any funds to close, purchase agreements, and if closing as an LLC - most times documentation on that LLC.Overall, the larger number of units (5+) makes the lending process based more off the property than the borrower, contrary to traditional single family housing.I would recommend you work with a Loan Originator/Broker who will be the medium for you to the lender/s.

My numbers were not based on me doing the work even though I often do.  

There are lending options for this, but I don't recommend them for a newer investor.

Look, I’m going to be brutally honest here - based on the OPs ATTITUDE, any competent experienced broker will run the other way.