I found a local lender who offered a pretty interesting product (at least from the standard stuff I've seen)First Time Home OwnersOnly 5% DownNO PMI3.75% InterestIncome Limits Waived for the Area we are LookingProperty we are looking at is asking $399k but we believe $350 is much more fair.

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/proIf you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/renewsblog/There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

Are their listings detailed with good quality photos?

Get a quality commercial broker (ideally someone who is well familiar with Greenwich Village and ask for their recommendation.

Count on and continually trust quality investor referrals in the REI space.

Purchase price: $49,500 Cash invested: $63,000 Buying multi family buildings below market value for the highest ROI while still providing quality to my low income tenants.

It is a product they offer for those unable to utilize the VA loan, however after calling them for the second time to verify that I would qualify they stated that it can only be used for secondary properties but not rentals.

I'm curious how the comps were looking and if the contractor performed quality work. 

@Tim Ivory, Sorry more bad news.  1031 is only an option for properties you have purchased with the intent of holding for productive use. 

I feel like the tenant quality is lower and the pool of buyers is more limited.