What kind of debt are you assuming when you purchase another fixer upper?

The other options (generally...there are certainly others) are the conventional 20% down, a VA loan for US veterans (probably doesn’t apply), or a 203K loan, which allows you to move into a non-conforming fixer upper. 

The upper Westchester market is not a strong single family house rental market for a couple reasons.

Purchase price: $308,000 Cash invested: $41,000 Single Family Fixer-Upper.

My plan is to find a fixer upper, remodel, and refinance using the equity to reinvest in more properties.I will need a contractor.

The upper two floors is  ~2,400 sqft, 5BR/3BA (with kitchen).

The upper unit guy works at ServePro- so he is a pretty hands on handy guy, and the lower unit guy is a younger handyman that is in School. 

I'm currently about 18 upper level credits away from my bachelors.

The Seller's have the upper hand, they dictate the price - hence it's going up. 

No flooding areas- Budget ~ 250 K ( to avoid competing against first-time buyers around $ 150 K )- Appealing for upper-middle-class young professional with or without children - Cash paymentI am targetting a property that could generate a between 8 to 10% gross annual yield ( down to 3 or 4 % after deducting all costs and taxes ).Feel free to share your recommendations, warnings, concerns or advice about my choice.