I understand it isn't easy, especially when new in the investing game.  

But what is really important is that you understand the terms of the loan, including the length of time and when you can expect to get the money back, how it is secured, and the process of getting it back if things don't go as planned with the investment.

@Brett Coultas if you're a newbie, you want to be careful of an "investor friendly" agent selling you something they truly don't understand:(95+% of agents only know how to handle owner-occupied transactions - you can verify this by asking them calculate ROI for you or Cash-On-Cash!

But from my understanding, the captial gains exclusion has two main criterias - you must have owned the home in the last 2 to 5 years and must have lived in the home in the last 2 to 5 years. 

Instead of just addressing the violation, they framed it as wanting to fully understand the requirements because they value the area and are committed to following the guidelines.

It’s understandable.

They can help you navigate the market and avoid common pitfalls.If you’re serious about taking the plunge, start analyzing properties in both Boston and Chicago markets to understand local trends.

Understanding that you're in New York and the laws are leaned to be tenant friendly, I would still say this is the best way to go about it as a new investor.

Its my understanding through my reading/research that 35% is the typical number.

I also understand that some cash buyers, unlike many of those motivated by greed, are honest and knowledgeable, however I find it difficult to identify them.