As a wannabe investor who would like to become new in the next 5 years or less, really what I'm looking for specifically is a mix of everything you mentioned.

Great questions @Benjamin HeddenThe closest to 10% cap rate I'm seeing in NYC these days is a 5–7% — usually in emerging parts of Brooklyn, Upper Manhattan, or the Bronx.Just a note — anything above 7% cap in NYC usually means significant deferred maintenance, tenant issues / rent-stabilized mix (with election of Zohran - best to stay away from stabilized buildings bc of the new mayor's rent freeze policy), higher-crime area, or mismanagement that needs a value-add.These last few weeks, many people are approaching me with a $500K-$1M budget.

Some approaches I’ve been seeing:Finding better deals due to less competitionPivoting from flips to long-term rentalsHolding properties longer than originally plannedOffering seller financing to make deals workI’d love to hear from seasoned investors: What strategies are you using to navigate these conditions? 

I have a client buying a mixed use in New Hampshire primary owner occupy, leaving for space and affordability renting their two fam out in mass, cash flowing, and keeping their business in mass, only requiring them a few times a week to visit it.

Every year, more reports show spikes in after-hours labor rates and pretty delayed response times during peak seasons.

Just scroll to the bottom of your listing link and you can see 4 places that are quite a bit nicer for under $1500.You are offering small 900sqft with an original kitchen, only ONE bathroom that is dated and has no counter space, an interior that is a mix of finishes and colors, tile ceiling, super basic light fixtures, no garage and a totally overgrown yard - all of that screams total neglect.

Will also want to be in an are that is a mix of small multi and single family. 

Case-Shiller showed prices up 1.3% year-over-year, with a tiny month-over-month dip before seasonal adjustments.

I recently did a loan for a 5 unit mixed use and had some success with getting a loan through a credit union.

A term that I lovingly call 'close-ability'Every lender goes through seasons where they don't communicate as well as they could, or seem to be losing momentum, or even throw out more than normal conditions (especially when hiring new Underwriters).