So glad you've already plugged into the Bigger Pockets podcast - that was a huge source of education for me when I first started.You mentioned that you had solid mortgage brokers lined up, but if I could add from experience...I would recommend that you talk to multiple lenders (banks, mortgage brokers, credit unions, etc.)

I think I need to get more deeply involved in local networks and find a good deal I can be a part of.

I wanted the ability to quickly change variables and to see worst case scenario #s, as well as to account for all expenses involved in a remodel (by line item). 

It’s a great way to meet local folks involved with REI. 

That might work but it needs multiple coats and plenty of curing time between coats and before using or else it will chip right off the second it's used heavily.Cameron

I had never considered trying to get involved via a REIT somehow, but that makes a ton of sense.I'm sure there are numerous REITS in Manhattan and the boroughs, I'll have to do some research.

I have read some of the books on the list already but I'm always down for reading them multiple times!

I plan on minimizing this by getting multiple quotes when large jobs are needed. 

I have also come to understand that you can use a 1031 exchange numerous times, so converting an MF to another property or multiple is possible.

Short term is really not worth the risk and vacancy involved.