You could be looking at anywhere between $ 50K and  $ 120K  Depending on the site and permit requirements .  

On top of this, our property management options also leave something to be desired.

Leveraged properties require patience even if your tenants pay on time and maintenance is limited.

If it was a 12 month lease, I wouldn’t require a monthly cleaning but at 6 months, I would like to make it a requirement.  

@Sean Quinn The majority of loans to real estate investors are done to LLCs, but they are underwritten using your personal FICO score and most require a personal guaranty, so the "corporate shield" won't apply.

However, they require 25-30% downpayment on your first rehab, which goes down with every rehab project to minimum of 10%.See if you have way to pull some cash - 401k, home equity line of credit...I am also on Long Island and looking for properties that I can rehab.

It is interesting that Sevier County TN (smokys market) has a new more intrusive ordinance requiring inspections.

Prepare some money upfront because that would be required prior to final settlement.

They probably wouldn't recommend anyone do their own engineering or doctoring without being trained and licensed to do those things, but for some reason buying and selling a multi-million dollar home doesn't require training, education and practice...  

Make articles or targeted advertisements emphasizing your desire to buy houses to flip.Driving for Dollars: Search for foreclosed or distressed properties as you drive through areas.