Here are highlights of the program right from their website:Program Benefits-A 30-year fixed interest rate mortgage loan, several rates and loan options available-Down payment assistance (DPA) 3% to 5% of the loan amount-You do not have to be a first-time homebuyer-DPA provided as a grant (never needs to be repaid) or 3-year deferred forgivable second lien loan-Available statewide through a network of participating lenders.

The "Legal" forum section seemed to deal more with financial related matters, which this topic did not seem appropriate for.Thanks!

As-is the house is worth about 250k and will be worth well over 300k once rehabbed, but I’m hoping for 24 month loan.

Learn about financial modeling and how to analyze your deals. 

I suppose you could buy and sit on land, and that's relatively passive, but beyond that virtually anything else is going to require some level of financial inputs (maintenance, capex, value add) and time inputs (DIY, managing the manager, etc) in order to realize the best returns. 

Everyone has different needs.I look at things in an accounting and financial perspective so I might or might not like something but maybe the PM functions has features that is a must have.Transitioning to any new platform will always be frustrating.I had to help a client transition 50 properties over to Buildium and that took a long time to do so. 

Carry out extensive market research to identify neighborhoods and property types that suit your financial goals.

Then we will continue to close the $5M SBA loan showing them that we have that gap... and proof of funds at that time

However, as a millennial with only 80k in income actually moving into the property and claiming NY residence would have been financial suicide.  

If you're considering a DSCR loan, most lenders won't assess the property's value using a cap rate.