Based on my experience even with hiring contractors you may also need to do some minor project management to keep the project on track.I definitely see what youre saying about the General Contractor saving me money in the long run due to him knowing local regulations better and getting better price on materials!

Market research, local expertise, networking, property management, financial planning, potential legal and tax ramifications, risk management, and long-term vision are important factors to take into account.

And I bet your local market is too.

Are you planning to invest locally in New York, or are you open to investing out-of-state?

At that time, local jurisdictions may be allowed to require property owners to be owner-occupied. 

This means a great lending attorney, 1st position loans against local properties, and sensible loan-to-value ratios (LTVs).

I bought SFH through turnkey companies out of state, had a few SFH's locally managed by someone else and bought some small mulifamily properties and had a PM there as well. 

Local REI Meetup groups - AskThey are out there, but they are hiding under rocks a lot of times and you have to turn over a lot of rocks to find them.    

If you visit https://www.biggerpockets.com/events, there is a section for "Community Events & Local Meet Ups." 

Educate yourself on the local market, network with other investors and agents, and always have a solid plan in place before making any investments.