., which is very useful information in trying to make your offer/evaluate the property. 

All investors are having to take a step back and re-evaluate their investing model, make tweaks, and move forward. 

I know that my friend who I’m trying to purchase the lot off of said that the lot was evaluated prior by a contractor and it was eligible for a 2 family as it is zoned.

I will be adding those points to another article I am writing on how to evaluate a real estate sponsor

I'd start by evaluating the actual houses and features of each.

Lenders are supposed to add back depreciation when evaluating your income and calculating your ratios.

I'm still evaluating whether or not I like this, so I have no recommendation at this point.I don't separately track money that is "earmarked" for capex or vacancies.

Lending is evaluated via DSCR of the asset instead of Personal DTI.

Correct, evaluate the property as if you weren't living there or as if you were paying market rent.

I am asking because I am invested in NYC at present, and am evaluating whether it makes sense to realize the NYC appreciation and transition/leverage the funds in a city like KC,  or reinvest in NYC for primarily appreciation.