Lastly, build relationships with cash buyers and hard money lenders early on—they’ll be key to closing deals quickly. 

Long Term non-paying Tenants.

It sounds like NYC’s eviction process is notoriously difficult, and carrying a large mortgage while dealing with non-paying tenants is draining both financially and emotionally.

@Jonathan LudizacaFrom a lender's perspective, starting in 1-4 units gives you experience and many more lenders will be open to first time flippers in this space versus multifamily. 

A good real estate agent who understands investment properties, a lender who works with investors, a solid contractor, and a property inspector can save you a ton of headaches down the line.

I haven’t reached out to any lenders yet but have a short list of them compiled.

Short-term rentals of non-owner-occupied properties will also require a special use variance which is obtainable by starting with the completion of an application in the Zoning Department."

I can share more details about how I got the business credit card and the hard lender I used if you want.

Hi- I just got a notice of non-renewal from State Farm insurance for my 6 unit apt complex in Long Beach.

Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow.