my budget for acquisition is $150k+in cash. my expected ROI I guess depends on ARV of the property, how much rehab it will need and weather I decide to flip it or hold it. 

Asset depletion/utilization loans with no income docs for primary are going to carry a higher rate like @Erik Estrada mentioned, but this seems really high.

No one even mentioned it being too high.

What you're proposing is really high risk.  

How are the property taxes in Nevada; fair, high or low? 

Being a builder, my first thought goes to the construction type items: Tile or wood floors, vinyl shower kits, high quality wall paint like Behr Marquis, solid wood furniture, good appliances not cheap rental ones, easy to maintain yard outside like DG, artificial turf and gravel. 

There are DSCR based seconds available for investment properties, however the rate and fees are high. 

You get easily 5,25% with short duration bills that are highly liquid, without risk, and no tenant troubles.

Ask your agent to explain the Scaffolding Laws in NY and how that impacts Liability.  

Not to mention the paperwork pain involved with each claim Any thoughts on just not having any insurance at all, or just some sort of liability and really high deductible ?