@Faysal AlamI would recommend investing in an area outside of NYC that you are familiar with(growing up, going to college, have extended friends/family that you visit).

Are you at all concerned it won't rent soon enough and you will have to make the payments for an extended period of time?

Is it possible to extend the deal while this gets worked out?

What i did was extend the inspection contingency till tittle comes in and we can see what’s on it.

Especially when you figure on "surprises" like evictions, needed repairs missed on the inspection, boilers/HW tanks going, etc.It sounds like you over-extended yourself on the first rehab and I would urge you to be careful about getting involved in another major project when it seems you stretched yourself pretty thin for the first one.There are times to "buy everything you can get your hands on" (like 2012) and times to be more cautious (I'm kinda feeling like that's now, or close to it).These days, I pay more attention to LTV and debt service coverage ratio than I do cap rate and cash on cash return.

I am even trying to negotiate an easement with the neighboring rental owner so we can use his driveway and extend it over into this one.Pending the septic inspection today I am going to ask them for some concessions in price that should cover the repaving. 

Business line of credit or a cash out refi and extend another few thousand over the next 30 years? 

To be safe we are going to extend inspection contingency and order the tittle to insure there isn’t anything crazy on it.

As my intentions isn’t to hold the debt over an extended period of time, and there’s not a clear blueprint of every dollar those funds would be directed toward.

Yes if they clearly aren’t fulfilling their obligations~ but in certain cases you should be able to extend them through temporarily if there’s a great need