I'm thinking of using private or hard money to purchase.

How do I become a private lender?

The short story...is it impossible to find private or hard money loans owner occupied in NY state?

I like asking the reason why they are selling - most times the story checks out but sometimes it is strange and other times they reveal something about the property that is off.   

Your partner would qualify for a private money line of credit,  They require some experience. 

Hey Adam, if you have a good job, plan to keep it and aren't particularly interested in swinging a hammer... sounds like syndication / private lending may be a good option to get some passive income. 

There is no deferred maintenance on either ( at least that I am aware of and an inspection report would reveal more).

Also, if something significant is revealed during the inspection, and you want to trade remedying that issue for a vacant first floor, that could be an option, but the issue should be material and not exaggerated, and the seller should have the option to remedy the inspection issue instead of making the trade.Lastly, and somewhat unrelated, you should always require that any security deposits, and interest accrued on such deposits, be passed on to you at closing.

@Ryan Sykes with a private lender you can get 75% of value at 90 days & 80% at 6 months.

I've found the best rates for lending to an LLC are coming from the "Private Banking" side, which is normally offered to customers who have a larger amount of holdings within the bank