Hi,
These kinds of questions come up a lot. Hopefully, you’ll get a variety of answers. But my most simplistic answer is: move to Newburgh, don’t just invest. The renter to homeowner ratio is flipped in Newburgh being 30/70, when in most economically healthy communities it is 70/30. The 70% of the renters mostly live in buildings owners by “investors”, people hoping that they can rehab a property, find the perfect tenants, and visit once in a while to make repairs. Talk to any landlord, the reality is that it is very hard to find the kind of tenants you are probably looking for. Resident homeowners take better care of the properties and are more invested in the community. This is part of the reason certain blocks of Grand and Montgomery are more charming than others- they are cared for by their owners that live there, or live somewhere else in the city of Newburgh. If you are planning to live in the residence you want to rehab, stay close to blocks where other owners live in their homes already. Talk to any of them, chances are they’d prefer a resident owner neighbor than a house being chopped up and rented out.
In short, Newburgh needs more homeowners and it needs more businesses starting/relocating in the city.
Hope this helps!