The ground floor has gas hookups for a gas oven and that floor has its own gas range/oven and kitchen which is also controlled by a ground floor sub-panel also with access to the backyard and to a lower cellar area where they have their own washer dryer and storage area.   

Control everything but own nothing. 

We already signed the purchase agreement several months ago...it has been on hold while they mitigated a pest control issue that has taken 2 months.If it's that important, make it part of your purchase agreement.

Common misconception that the fed funds controls mortgage rates but that is not how it works. 

yes, on paper it makes sense to run by the room because you can technically maximize your rental income but you have to consider the following things:- who has control of the thermostat?

Perhaps the most important of which is that its more predictable and more CONTROLLABLE.

Otherwise, the DST fees eat up the tax Ruthie- Yes they are in control for when the property is sold.

There was also a part of that law that enacts rent control anywhere in the state, which may affect your plans.Make sure any changes you are proposing to the contract are compliant with the "new" New York State housing laws. 

If you are investing in a distant market there should be even greater reasoning behind the investment because you have less control and therefore even greater risk no matter what anybody tries telling you. 

He's absolutely right that using debt to control cash flow is also creating tax free cash for expansion.