I have not had good communication with the property management team either so in the next month or so I am switching over to another company I have already spoke with who also recommended seeing how long I can go with complimentary property management.I'm actually just a little concerned with whether the tenant is being taken care of or not.

In this case, would he actually need to pay any money for the down payment, or does it basically cancel out in the debit/credit line items?

more reasons why not to get washers, dryers, etc because just wow. 

Not necessarily actually, I was able to get a $30k BCC without an LLC.

Since you're open to markets beyond NYC, you might want to connect with local investor meetups or REI groups in those areas to build relationships with agents, wholesalers, and lenders who understand the nuances of each market.If you're looking to break out of analysis paralysis, maybe start by narrowing down one or two target markets and running numbers on actual deals.

There are a ton of complexities with properly repairing a fire damaged house....they sell really cheap for a reason.

Yes, the fees seem reasonable.

Once the loan matures, the interest rate could go even higher and you can actually start losing equity in the deal.

I have actually cashed out a lot of my IRA now bc I have so much depreciation from RE that my tax bracket is very low and the taxes to pay on the IRA withdrawal are also pretty much non existent (taking aside the penalty). 

That is one of the main reasons that I’m so skeptical.