I work in NYC today, and know most towns within those counties have either a bus or train line into NYC.

In what year were they built?

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

ARV is $230k - Needs 60k in repairs (built in 1976)2.

The first set is older houses built in the early 80's.  

This would be at a 4.5% rate back to myself.I only have 20% equity in my home, so I don't believe that would be a viable option just yet.StrategyBRRRR-My concern is if I would have enough capital to support the rehab portion of a purchase.Single Family homeMarketsThinking the 100k range in cities that are situated around small town colleges, or other potential sources of consistent renters. 

I have a shop in my town that has all sorts of legal documents for $5-$10 per.2) Option agreement - You can find these also at the same type of shopThese two documents MUST be separate documents.

How much are typical management fees in town?

There are less than 9k people in town with not much job growth. 

I do not live there but I am in town at least once a week.