I suspect you will have other answers that are a variant of specific information and tips.One that is a little different that I'll toss out there: find someone that has done this before, that also has $250k+, that wants to be a mentor, and see if they will go in together with you.

The only difference in your offer is the cash & where it comes from.

So the asset class is different than investing in public ETFs and any publicly available list like that is not going to be comprehensive.Having said that...if you're interested in a private version of such a list then private message me. 

if ballooning, i would try a bank or CU who can do a standalone 2nd for you to pay off that $155k only... but something 30 year amortization. if its on another property, then... different conversation.

Different tax ramifications stem from each treatment.Not enough info in your OP to make that determination.  

It's great to hear about your experience with different rental platforms – Airbnb and Booking.com for short stays, and Furnished Finder for mid-term rentals.

There are some differences for sure but I don't think they are substantial.3) What laws should I watch out for (for example am I allowed to have the water/electricity be under the tenant's name) - You can put all utilities in the tenant's name, but I would advise keeping water in your name since that utility is a lien on the house itself.

Hey I'm looking for different markets to invest in out side of NY, what surrounding states/cities tend to be more landlord friendly?

I 'googled it' a couple different ways and found nothing of the sort......?

I'll play devil's advocate, at that price you might as well invest in multifamily units. 3-4 unit properties are selling in the low $200K and with an average rent of $700/unit, you get better cash flow and spread out risk (1/3 units vacant versus the house 100% vacant.)You do your inspections and make necessary improvements upfront to offset the risks with buying a "used" property instead of brand new construction.Alternatively, how much of a price difference between new construction and a remodeled home?