In the future, if you want to ensure you get paid at closing, consider getting licensed (if you’re not already). 

Is there something that they're not disclosing that will hurt me in the future.

See you on future threads!

I'll have to sit down with the owner in the near future.

Due to the time value of money accelerated payments increase your yield as an investor (but more on that in a future deal).Let’s talk Note Investing!

Your biggest "investment" mistake at the time was: paying full market value.When you only rely on future appreciation, it's always going to a long, slow slog.Which is why I agree with @Scott Bowles urgent advice to you: Sell!

As many investors have echoed - NYC is a very expensive marketYou have the following options1) Investing in NYC - require large capital and a good choice if you are banking on appreciation in the future.2) Invest in upstate NY or CT/MA/PA/NJ3) Invest through a turnkey property4) Househack(may be difficult in NYC but doable in parts of NJHave you looked into attending any local real estate events in NYC? 

Congratulations on all your success in real estate so far and best of luck in the future!

My question came up as a result of using the Rental Property calculator and looking at the future cash flow/return model...Most listings in my market (San Diego) don't come close to passing the 1% rule... however, I still run the numbers to start looking at how close I can get to positive cash flow and what has a bigger impact on the numbers (purchase price, reno costs, etc.). 

Almost every multifamily deal I look at does a future or best case scenario Proforma.