I am looking to purchase a home in a desirable area (East of 5, North of 90) with a large number of rooms, and a sizeable basement.

As for multi-units, they are typically in less than desirable areas and can be a little hard to find for the right price.

Direction on this one is specific to your capacity for risks and your desired return.

I do not know what I would do after achieving financial freedom, but I'm absolutely sure that I wouldn't spend it here.However, I am still grateful to have the income and opportunity that I do have, and I would like to leverage this income to achieve the one thing that I desire above all things in life at this particular moment - financial freedom, as fast as possible.

So, make sure your property lists have that because you could easily miss your desired property if you're waiting to hear a physical address.Last month, two different trustee reps sold maybe 5-6 properties each, and Auction tried to sell 13 or so.  

Cash flow is low but house is in a highly desired area and rent will go up over time, as well as property value.

I’ve been looking for the past few months, focusing mainly in the desirable in the neighborhoods in the Bronx.

@Alissa Evans... my personal experience is that it is getting harder to find good 1% deals in "desirable" neighborhoods in SA.

However, my desire is to buy it in an LLC. 

Your problem couldBe that your product that you are trying to deliver for $1100 a month is not desirable for that neighborhood.