Occasionally, you can find an online auction that allows for financing, but it has to be able to close within 20-30 days depending on the auction rules.

I believe the cash flow/yield in many of those areas(maybe all of them) would be better than in NYC.You can expand your search into the less commutable areas, but if you can stay a little closer to home, there’s value for those occasional property visits you might choose to make.

Had this discussion with one of my clients yesterday.....a few things....one is sewer pipes...at this point I would probably be looking to see if they were replaced...in my experienced the cast iron black pipe lasts about 50 years...occasionally 60 or 70...at this point you may be looking at also replacing electrical and plumbing systems and insulation.    

By the way, you know that Josh and Brandon could add a third person in occasionally.

Of course, the IRS allows for the occasional unexpected short-term sale - sometimes life happens, you have to sell an investment prop sooner than anticipated to get capital, etc, which is why there isn't a hard-and-fast ownership requirement - BUT you still have to have be able to show your intent  to hold the prop longer.

Specifically single family homes but I’m open to the occasional duplex or triplex.

Occasionally you may see window units, but for most of what you see will have HVAC.Remember since these are vacant, budget for repair time, leasing time, and leasing fee....I'd think 3-4 months....1month rehab, 1 month to lease, and 1month lease fee. 

I've seen some pretty extravagant wash areas. 

The wall itself is solid rock cliff however you can see where the occasional fist sized chunk had run down and collected at the yards edge.

Friend B was shopping in the same area, and although they wanted to very occasionally use their property, were really excited by potential short-term rental yields.