I saw a report that showed if rates decreased to a measly 6.5% that it would open up homeownership for over 1,000,000 people.  

I would look at 2-4 unit property and the financing on that, why not buy something that you can house hack each room, including the unit you live to decrease or make that monthly expense zero.

Will drastically decrease vacancy and give a bump to rents.

MIAs were developed to decrease the amount of time spent curing known defects. 

Increase your income, decrease your expenses, and save money.

Sounds like you either need to decrease the purchase price or increase the rent.

Newburgh definitely has some rougher areas and the data shows a decrease in both total population and home values over the past decade, which is something to consider before investing there. 

The great deal part comes into play when you can find ways to increase income and decrease expenses on the property.  

That decreased friction comes in the form of no hearing and local government approval.Less red tape doesn’t mean no red tape…What becomes clear after adding all of the eligibility requirements is that not many parcels qualify for SB9 and even fewer make sense as an SB9 candidate.To avoid boring you with a breakdown of each eligible category, I’ll summarize here.

The HELOC is likely going to have a floating rate that may increase over time making your property cash flow decrease.