I would focus in on the mechanical setup of the building to make sure you won't have big issues going forward with it.

Don't ever stop swinging but for now focus on playing money ball and getting to first base!

On P&L, I want to see previous year if possible, then compare to current year, and focus on YTD actual expenses compared to YTD Budget - I then look at variances to see where the “leaks” are.

I attended the FHA home owners education class and received the certificate of completion, so I am working with the lender on the 3.5% down and down payment assistance, so I have less money out of pocket and can focus more of my funds on renovation and increasing equity.The properties I am looking at either have basements that are finished, or basements that I can finish myself to rent out separately either on a month to month basis, or as an AirBnB, or they have detached garages that are big enough to convert to a studio, or AirBnB. 

So I should be more focused on the current value than how much I currently owe?

Am focused on northern NJ and Manhattan. 

Focus on the long game.If I were in your shoes, I'd be thinking about increasing my portfolio (1 unit to 2-3 units). 

Would it be advisable to link up with an experienced wholesaler now and work on a few deals or should I focus more on my realestate license and work for a sales company to learn the market.

And without the risk associated with borrowing for fixed assets on your own.There's no real downside to this equation as long as the DSTs are solid and your focus for growth is on the cash side. 

I plan to serve the notice this week, focus on unit rehab in 2 months time (if the tenant can get out by then!)