Jared Viernes my wife and I will actually be living here for the next 2.5 years or so and we had toyed with the idea of buying a new construction but the main reason we didn’t go with what you’re saying is that a lot of the inventory here is either relatively new or just nasty looking and/or in a flood zone.

My main concern was to get credit for paying property taxes.

I'm mainly interested in creating cash flow and long-term wealth.

Seeking out an attractive investment opportunity in NYC is extremely hard and huge entrance barrier for someone who doesn't have too much money.

As prices go up, more people are attracted to real estate, making it a worse investment.

And don't buy at market rate (i.e. buy at a discount) so that your leverage isn't 100% of market value, but only purchase price, if that makes sense.The main key to leveraging properties is exactly what Pete is saying.

Many times they cannot due to condition or possible title mainly estate issues.

The more you talk about what you're doing, if done confidentiality and properly, you will begin attracting money/partners. 

I planned on doing the minor cosmetic fixes i know i can handle (sheet rock, paint, trim etc.) but my main focus is going to be managing the flip as a whole (contractors,scheduling) creating a system, and setting up the next deal.

Green space and parks add value to communities and could increase the likelihood that development would be attracted to that area.