I don't mind paying for something that works well.Thanks everyone!!  

Talk to active flippers in your neighborhood and ask them what they ended up paying for rehab on their last few deals.This back of napkin stuff will still have huge margins of error though, so ultimately you will need to make the lowest offers you can negotiate and back those offers up with some sort of rationalization for them to ever be accepted.

(Begin with the end in mind).

Also I wonder there are more active snake situation in that neighborhood ?

JenInvestor, Realtor, CPAWhatever the mind of man can conceive and believe, it can achieve. - Napoleon Hill.

I won't sell my rental (former primary) for a very long time because it does cash flow, but since 2017 appreciated from $245,000- $~420,000 and cash flows $1,000 over the mortgage.  2) I personally like LTR, but the by room (Padsplit) has been really profitiable for a couple flippers I know who pivoted, started rehabbing their flips with Padsplit in mind, and it so far has been kind of a "best of both worlds" when it comes to consistent cash flow to cover the mortgages, but also generating higher cashflow with the by room model.3) Generally, the new build approach can be great because of what you said-- minimal maintenance for at least the first 5-7 years. 

@Marlon A Squires II there is definitely some good activity there in Moyock and Elizabeth City.

I'll keep those in mind while calculating rentals from now on.So I pressume your suggestion is to avoid rentals in NYC, if so where do you think is a good place to start buying up rentals that's close proximity to NY ?

. - Goal #2 Building a Network/Team: Establish real connections with other like minded investors or professionals for advice, partnerships, and general support.

Note I am just starting also maybe just a step or two ahead of you so bear that in mind.