How does one stay out of C class neighborhoods with limited capital starting out and have room for a rehab budget?

It will give you a better idea on your budget and make "pulling the trigger" faster.

Example, I had an investor recently that told me their rehab budget on a $350,000 ARV was $100,000. 

However, I did stumble across a company called Budget Refinishers last month.

Being able to float the mortgage for the foreseeable future is a factor to be mindful of when budgeting. 

MY understand was they do not grant you real property rights like traditional real estate assets (condos, SFH, etc).After these realizations I decided that if I wanted to own a real property, within my budget, I would need to leave NYC, and move to another state.

@Benjamin Lemieux Hello Ben, sounds like something you have put thought into and it is great you have budgeted your exact amount of reserves and thought worst case scenarios so you are prepared.

Set a budget.

You basically are deferring the Tax Obligation of the Commission to the date where you will sell the property.As a result of doing all the above, I reduced the purchase price of the $1.5 Million Purchase by 3% or $45,000.So, not only did I beat down the price by $200k ($1.7 Million originally), but I received a Credit of $45k for a total savings of $245k off the original listing price.I'm not sure if any of the above will be anything but Entertainment, but I thought I would mention it since I went your route and acquired my Broker's License without being a Salesperson.I found myself swimming with the Sharks!

Looking at the analysis, a) I would not self manage any investment property, unless you like doing that work plus the headaches and stress b) you did not budget for a home inspection or the cost of upfront repairs or maintenance.