It’s very common for people to commute an hour or more to jobs in NYC and a lot of those people could wind up choosing to live in places like Nassau County and north eastern NJ.

Just a quick glance, showing rent of $3400 and a sale price of $450,000 says the property is way over priced.

If it was good inside they would have showed the granite, SS appliances.This is one of the oldest immigrant route and as such I have a feeling the local crime stats can be higher.  

If you lose your job before you repay this money it would likely be considered a distribution and then you probably have to pay income tax and a 10% penalty on it.

They then have another realization that “sweat equity” is actually hard and requires tools, time, and a know-how in order to do the job right.When you’re under contract you’ll come up with a scope of work and budget, submit it for approval to the lender, and you’ll be able to make draws once you’ve closed and started the project.

@William HustonLot of that depends on your goals and a big part depends on rent to value ratios in your area.  

I'm recently US.Army retired and a chef. 

And as you said, you will also likely incur realty transfer taxes. 

I work with a great team of plumbers, general contractors, title people a commercial lender and a roofer.

You have to have some cash, an entity and a decent credit score (over 650), but it's doable.