So what I was truly asking is if it is possible to start that small or should I keep working on saving every dollar for another 6 months and amass more savings before I even think about getting a rental property?

The goal would be to earn some extra side cash to save and to network with other real estate professionals.

Seems the most likely route will to just save the cash needed.

Do you have any cash saved up?

I’ve been able to find lenders who don’t require seasoning periods which saves some money given the higher interest rates.

Dave Cooper from Paper City Savings will to. 

This would save you a ton with taxes - although it is in your best interest to speak with an accountant who can run the numbers for the different scenarios. 

If this were a forum for maximizing profit in sales tactics where we can discuss the intricacies of getting paid for a diagnostic service call regardless of whether you actually diagnose anything correctly, well then...

The few hundred dollars it would cost you to sit down with a competent lawyer is likely to save you a lot of brain damage down the road. 

Don't know how much you have saved to get started but taking advantage of FHA is a much cheaper way to enter the NYC market.