Essentially, you want the property to pay for itself, including the mortgage.

I was told by the mortgage broker that as long as I have a legitimate business and intend to occupy sat least 50% of the square feet it is possible.I am open to other forms of loans but I heard that SBA will normally do 90%.

If it is in a flood plane, the mortgage company is going to demand the flood insurance.  

This is where I live - my 3 apartments cover my mortgage and I am in essence living here “for free.”

So financing it is an issue.I have experience with several remodels, additions and gut rehabs for my properties where I was the GC (planning, permits & inspections, subcontracting)I can probably start small and purchase cheaper properties with cash (around $100k+) and rehab/remodel/rent/flip and build up a portfolio.

I would then start with substantially cheaper homes to invest in where I am going. 

Prices will of course be much cheaper in Stockton. 

@Reginald Willhite first and foremost seek out a very knowledgeable mortgage broker to make sure the programs you think you can use are actually available.

These four properties are obviously cash flowing very nicely without the mortgages, but I am now in need of cash for new investments.  

Don't know how much you have saved to get started but taking advantage of FHA is a much cheaper way to enter the NYC market.