Cheap fixes rarely work . 

I would throw away the goals and start by assessing YOURSELF and determine what skills and effort you will bring to real estate investing and THEN decide on an investment strategy that suits you.

Turnovers crush profits, so I keep these people in for cheap and they don’t bother me for much.

Granted in is imperative that one has a heart for helping those in the throws of addiction, I don't believe you could or would even want to pursue this business otherwise...

What are you using for sending Bulk SMS that is cheap but has a high delivery rate?

NY Market is very competitive, so getting a good deal might be worth the investment of being flexible with your preferences or any upgrades needed on the property; cheap houses are houses that need work or problems that need to be fixed. 

There are still things we don't know... like what the value of other properties like yours in the area are worth...but I will throw out a couple of thoughts for you.As to appraised value - many appraisers look at what the property is being sold for and base their appraisal around that number.  

@Jeff CostaI have an attorney in PA that can review but they are not cheap (but very good)

So they'll sell it for cheap anyway (not full retail) and then pay the 6% on top of that.

In order to harness as much of the effects that add to your net worth you want to buy as many assets as you can, and as much quality as you can afford.It is very tempting to go into cheap neighborhoods, but especially with the old housing stock we have in the Midwest capex will exceed cash flow over time and you are not building equity.Consider your first deal a proof of concept.