There aren't too many neighborhoods in NY without several construction sites so I can only imagine how this curiosity has continued to grow.Welcome to the BiggerPockets forum... great place to connect with other investors and learn everything there is to know about RE investing.What are some goals you have in mind?

Set your investment goals, like property type, target markets, desired returns, and risk tolerance.

I don't plan on suing myself, so the risks a VERY low.Before you lock anything in, it may not make sense to keep that property as a rental.

@Grace Adiba I would recommend interviewing several PM's to start.

Jemma.............I have a lead specialist directly from the Cleveland City Website that has passed several of my units.

Too much risk for damage, spraying etc.

There are several threads here on BP with servicer recommendations, but here are a few of the common names in the industry.

Since this may not come into play until several years from now, is there an accepted standard for establishing a fair future rent price based on market rental rates somehow?

My initial thought was to put enough in savings for a 1 year emergency fund (am I pharmacist so I am risk averse!)

The risk is if you take out the HELOC and don't have a way to pay it off, then you're paying PITI and HELOC, and rent alone likely won't cover both.