Gas heat access is better than electric for example if you have a choice. 

Although not ideal for investors, Im torn because with the money saved on the down payment and closing costs you could buy down interest, put a down payment on another home in a cheaper place etc.

So.... for buy and hold, 30YFRM/10YARM is always good choice.

Most sellers do not want to deal with FHA 203K due to the timeline it takes to close but in a slow market its possible.

Takes some time to close, but can potentially get you the best leverage and longest loan terms with a reasonable rate. 

Does anyone know of any good cities to start out in that's somewhat close to New York City ?

- how did you determine rehab costs  - Are those closing costs for both the acquisition and selling?  

We look that you have the cash to close, the ARV is there, and your credit is over 640.

I would like to credit back a portion of my buyer's down payment on a house, say a few days after closing.

My wife and I ultimately want to purchase our first rental property in the Allentown/Bethlehem/Easton, Harrisburg, or Pittsburgh area since those would be close to home.