Dump fees alone will eat that 1k.

I'm trying to purchase a 6 unit that needs some work and the 25% down required by most lenders will  eat up too much of my cash.Anyone know of a private lender who will go 80% on commercial who lends in NY?

This regulation applies to “a non-owner occupied room or group of related rooms within a dwelling used or intended for use by one family or household for living, sleeping, cooking and eating.”

@Jay HinrichsMake sure to eat something fried on a stick at the State Fair :)

With my wife and inlaws either eating out or just seeing what Charlotte has to offer us.

And you're missing the financing costs, which will most likely eat up what ever is left of the profit.  

Grab a cup of coffee or a bite to eat and you may just find an agent that is willing to assist.  

I would be more than willing to trade some of my time or as many In-N-Out burgers as you can eat in exchange for a tour of one of your local deals! 

So in  5 to 8 years it would be nice to live somewhere else than here, because even though we want to retire early we have no aspirations to waste money on frivolous luxury items other than a vacation or two per year and eating all-organic vegan food and one day returning to college.

It's a good idea, problem is, by the time you get compliant, the costs involved will eat you up and your break even will require more loan originations than one underwriter can do in a timely manner.