The budget is $400K. 1) HELCO  = all cash purchase with intention to refinance later on2) Refi on another rental  property = all cash purchase3) Conventional mortgageWhich method could save me some money at closing in NY and in the long run? 

@Bridget FitzpatrickCheck out this link https://www.biggerpockets.com/forums/530/topics/818478-determine-how-much-an-str-will-make-using-the-enemy-method

1920's and was not repaired correctly in the past, so want to do it right this time but still on a budget.Also need to replace double hung windows. 

The Comp Sale method and REI in general have enough variables in them already for the average investor; adding in the wrinkle of buying above market value is not something I'd do in general.

They loan up to what you paid for the property within the first 12 months if memory serves me correctly.

But @Annette Hibbler, you are correct, most SFR realtors are not proactive and simply get a listing and wait for the calls to view the property.

@Mike Hartzog is exactly correct in that the purchase price of the note by the hedge fund is not public knowledge.

The whole Buffalo market has been steady ( slow ) for years and years so we never really dealt with booms or busts, but with the crazy growth over the past several years, I can see things being over priced and possibly correcting, but when...

I would not be eligible to be a member there, correct me if I am wrong but must you or a family member be a member or former member of the military?

@Thomas S. is correct. the need for an LLC is vastly overblown.