I'm from NY as well but I'm looking to invest in PA as well. 

Denver- my family has a second home in Denver so I’m familiar with the area, PA- it’s close and inexpensive; Queens NY- a lot of potential in some of the underdeveloped areas, Texas, Tennessee and suburbs of Vegas

The house is located in Westhampton, NY, a very rich beach community where houses just minutes away sell for over $5 million.

Looking for HELOCs in NY as well. 

So to answer your most pressing question, yes wholesaling is legal in NY.

I am located in northern NY as well, some long term tenants which came with buildings I have purchased are still paying the same rent as they had with the previous owner. 

I see you are in NY.

Even on most DSCR loans, you'll be looking at 20% down, so your best bet for low(er) down payment would be to utilize a BRRRR strategy with a rehab-focused bridge loan into a DSCR to get it stabilized and cash flowing.Be sure when you talk with potential lenders to make sure that they are licensed to operate in NY as well.

@Angelica RoseRealistically I do not know how attainable it is to go that route here in NY. 

This allows the young professional community to live in Philly and easily commute to NY, a phenomenon that is already happening.That's amazing!