Also, for small investors with limited capital you should be vary concerned with taking on too much debt as you can drown in it.  

Not sure what my question is, I'm just confused and trying to find other ways to passive income other than buying rentals, which seems like a lot of work and debt to go into for $300-$500 per door if I'm financing the properties. 

Granted only get 70% of sale price but should be enough to clear all debt off of myself and rentals will pay for each other.

I don't know squat about NY RE, but it sounds like these sellers are trying to exclude folks using HML, and look for only a) All cash buyers or b) HELOC buyers.If you want to play in this arena, and that is what is going down, I'd suggest opening a HELOC on some other property you own with the highest maximum credit line that your equity position will allow but a $0 current balance.Offer accepted, max out the HELOC, funds arrive next day, show proof to seller.Then you would use the HML to pay off the HELOC a few weeks later, if you'd prefer that the debt be secured by the subject property.

Now I'm selling nearly 100 houses each year plus several of my own restoration projects and have been ranked among the top 50 Realtors in MN out of more than 20,000 four years running for number of homes sold, but it took a lot of thinking positive, hard work and getting out of my comfort zone.

The Gross operating income is without any debt service (P or I).What's funny is the duplex numbers are better than the comparable SFH numbers I have in columns D and E, for which I'm using the 1% rule, which I've heard is a tough number to achieve.

Also I would need to secure funding, but have a small nest egg to work with and like I said we have W2 income with great credit, low debt/income ratio.

Add in the fact that note investors are tapping into deals six to twelve months ahead of other investors by buying the distressed debt, and you’ll understand why note investors are tapping into great deals.

My agent said she wonders if he was unhappy with the money as he still holds the mortgage of the man who died and this man (they man who died) had some very serious irs debts (3mil) with all his properties.

@Will Hamilton If you buy a condo, then move after 1 year, your debt-to-income might be a problem if you want to purchase something in your new city......