All of which may factor in. 

I am looking at buying a townhouse in NYC that is currently designated as an SRO with two rent stabilised tenants living on one of the floors and the other floor unit is vacant.

I know there is a huge shortage of housing and that has driven up price in the past couple years (along with other factors such as the pandemic, population growth, etc) so, I see listings for 2br-1bth for up to 2200 on places like Zillow, Redfin, etc.  

The baby on the way should not factor into your decision. 

That’s the very simplified version but raising capital is always your biggest limiting factor so the more investors you can connect with the better. 

Acquired a double lot for $112k after resolving title issues and paid $360k for construction, creating a 6-bed, 5-bath house designed for co-living or multi-gen use.

@jay hinrichs - I've noticed on turn key websites that vacancy and repairs are not factored into these 8%-10% estimated returns. 

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

Not a silly question at all but the answer depends on a few factors.

With compensating factors I have a really good 15% down option on DSCR