Am I completely off base?

I am considering various options for Property Management.

I believe this is correct - doable but very challenging to qualify STR with conventional in a high-rate environment like we've been in.Sharing this article published last year on STR Loans Options Pros/Cons, etc if it helps!

How much return would you need to purchase and hold my property, while I lease it from you with a 5 yr option?

The interest rate is floating based on WSJ Prime rate, but as the prime rate comes down the LOC rate will also drop. 

This is based on experiences people have with them.

I ran some comps and found that the price is reasonable based on the area, could be slightly lower around 10k or so.

I am based out of NYC but I plan to invest in Pennsylvania, or Upstate New York.

However, with a 30-year term, your mortgage payment obligations are smaller, but you have the option to pay more toward the principal if you choose.If you’re having trouble penciling things out, it could be because you’re using an atypical debt structure.

Condos are also unique because each condo is different from another, so the strategy is really building by building, and there are buildings which match each of the options you listed above.June 2024 showed clearly the increase (and rush to sell) of inventory, that for 90% is driven by older buildings (40 years+).