That may be exactly what I'm looking for, going to check out the Bronx location in the next week or two.

I Think this will be specific to your location.

I realize location is key when focusing on short term seasonal rentals.

I could tease this out more, but the main reasons are 1) a down economy, 2) an emerging economy, 3) AAA property locations, 4) lack of credit available, and 5) historical buildings (very sturdy construction, 3-4.5m ceilings, etc) that are very undervalued at the moment for mostly aesthetic reasons that can be fixed quite easily.

Where is it located? 

I would like to keep moving forward and find a deal, but I would also like to see if I can locate a partner who will be willing to help with the down payment  and share in the proceeds.  

Something goes wrong they have a small loan in the middle of nowhere taking up a big amount of their time.If you are paying 15% to hard money lender maybe you should source a private lender at say 10% or so.I know most lenders on commercial won't touch a loan under 1 million, some under 2 million. 4.5 to 5% interest are premium rates in today's environment.If you could land a 6 to 7% for loans that small in those locations then likely doing well.

Hey BP, I’m looking for any advice that an amateur investor like myself can use in order to locate and determine a less expensive market in my general area where I can purchase and rent out my first property.

Send cash from one location to another even in other states is possible on sunday via Walmart to walmart. 

@Kimber Lockhart nice location.