A lot of the contents seem to apply elsewhere so I'm trying to see if there're any NYC investors who could maybe point me in the right direction. 

Just generally speaking as I'm considering selling something that the above would apply.

Once complete, apply for an fha cash out refi.   

If managed and invested will this equity will be the root for generational wealth.

I am asking because I heard it was better to close near the beginning of the month so you can apply the rent to the closing costs if you want to, plus I don't have to pay my first payment until the next month. 

Do you think similar logic applies for a 10% down payment instead of 3.5%?

Let's say an obvious junkie applies for your $600 apartment and he has no job, no Landlord reference, a 486 credit score, six kids from five different women and two of those women are currently sitting in his 1984 Oldsmobile smoking hand-rolled cigarettes and offering services to any man that walks by.

The same applies for a deal.

@Eduardo Godoy I moved across the country early in life and started over and the jumped several states twice more before settling down and planting roots in the community I have now lived in for 25 years.

I'd also find out from the PM how much the deposit is and make sure that gets applied to the rent.