I'm guessing the roof and exterior were in good condition.  

In a recent house, we found:- Lots of ammunition (sold it in bulk for $500 to a gun collector from Facebook)- Baseball cards (sold 4 cards for total of $200 on eBay)- Large Buck knife collection (sold most of them for $600 on eBay, saved a few)- Several thousand comic books (book value probably $1000-3000, though we haven't sold them yet)-  About two dozen books from the 1800s, in very good condition (likely not worth much, but very cool, and there is one book that has a good story to go with it that might help me to meet Neil deGrasse Tyson)-  An air rifle from the 1870s. 

Post a legal notice to enter to find out the condition of the property and to determine if it is abandoned, following the local landlord-tenant laws and using their definition of abandonment. 

Other than the rot it's in perfect condition..renter ready.

Normally I'd agree that the important info is ARV, debt, and condition.

Another avenue to take would be to do a purchase option with the specific condition of being able to obtain a right-of-way easement to a main road from one of the neighboring property owners.

What kind of condition is the property in?

Is it condition?

Its a 1971 building so am scared of the condition and repairs needed.

It is VERY possible that there are exceptions for buildings of 4 or less units. 4 or less units qualify for FHA mortgages under a federal guideline - so perhaps the prohibitive New York legislation only applies to 5+ units?