And what about that high school biology?

I spent so much money trying to bring that place together that I am literally tens of thousands of dollars in high interest credit card debt.

Aso was looking in areas such as texas, OH, I would love to stay in NY but not sure my income is high enough to get something suited for here.

Fractional investing options include real estate crowdfunding platforms like Arrived and Ark7, or real estate syndications for potentially higher returns.

the ARV does not justify the rehab; it's much more risky to do something like this out of state; and for this much effort, you would need a way better return. 

I'm in the high 7s now with no points on a 5 year balloon on build loans.

I figure it could be a decent time to buy soon while it seems to be somewhat of a buyers market given high rates as I could be cash buyer.

It's not a terrible strategy except you tend to end up with broke, desperate tenants because those with reasonable funds would prefer cheaper rent and a returnable deposit. 

On the long-term rental side, I'm not exactly sure where your house is, but getting over $3,000 a month right now is for homes that are on the high end and in really nice neighborhoods.

I would highly recommend connecting with @Josh Brook