Assuming the analysis was based on full occupancy of paying tenants, the numbers don't work out.

You would be shocked at how some high income earners live and treat rental units that arent theirs, most renters are fine but many are entitled and may take you to court or stiff you on a repair bill rather than assume liability.

@Pundari Pothini, I know that you said passive opportunities do not suit your style (I'm assuming you mean syndications), but have you explored the option of joining a syndicator with a more active role?

I assume the Bronx properties are insanely priced. 

I am likely looking to use hard money as my source of funding, but since hard money is usually based on the deal itself, I'm assuming you have to secure a deal before even submitting a request for funds - but do you actually have to something under contract to apply for hard money?

I assume I should also request any certifications.

I'm also assuming you want to flip with a couple of these suggestions

Or another possibility would be partnering with someone to assume the loan on the house and pay them the difference between an agreed market price and what they owe.

I had assumed I would just need separate savings accounts in which to store each deposit.

I'm assuming it will take quite a while to get a good lead this way, and I'm interested to hear of anyone who has had any turnout using this strategy.