Is it safe?

My plan is same as above, use safe leverage to acquire enough properties then flip the switch and pay them all down and be done.  

I lost close to 30k on both contractors on that single house. my two cents here: A Clearly the fact you worked with a contractor for a while, and all was good does not mean your next project is "safe"B  often out of state investors are seen as "easy prey" and great relationship they had with a local does not mean an out of state  will get the same treatment..I am asking you, the experienced out of town  investors that works with a local contractors:What Am I missing ? 

I think you’re safe.

We always try to make a lot of repairs upon acquisition or vacating of units to prevent much deferred maintenance down the road. 2) Make sure to take into consideration what utilities you as an owner would be paying; nothing, water, common electric, etc3) I think you’re safe at 10% PM expense. 

It's a cheaper market, but your going to need to play it very safe.

If a home on the same street with the same number of bedrooms and bathrooms in similar condition sold for 150k, then it is safe to say you are in that ballpark.

I also don't know that I'd feel totally safe for my girlfriend who's living with me (we'd be owner occupants for at least a year or two before renting out both units), as the people next door are allowed outside unsupervised during the day.

You have to be careful in NY.Think of this business this way:I need a quality property that people want to rent and stay, with safe neighborhood and good schools.I need to find a motivated seller that will take EITHER1) low cash amount of cash (60- 65% ARV = After Repaired Value)2) terms (Sub2, Wrap - AITD, Contract For Deed, Lease Option, Private 1st Mortgage for free and clear house, etc).If you need a lawyer to help you get started, seek out your NY REIA President and get a referral of a good REI Attorney.Best of Luck!

Is there a legal way to structure this so that all three parties (buyer, seller, and lender) all are safe?