14 Unit in Brooklyn with Family or Go alone in New England?

[Joseph Kotey]

A little long but interesting: I own a part of a 14 unit that is RENT STABILIZED in Brooklyn NY with 7 Family members which has been in the family for decades.  The rents are very low and only 25%-50% of market rates due to the very strict rent stabilization laws. Therefore the property value is that much less due to low rents and strict laws keeping them low.  Even though it's paid off, it's barely enough income for 2 people  and certainly not 7. The only way that we can make money that I know of  is by going through the intense process of converting units to condos.

The problem is that half of the family wants to keep it unprofitable as is for at least 5 years due to a random, confusing request by our deceased Grandmother. They are also already well of financially and not interested in business in general. Some are even ant-business and anti landlord. They feel bad about trying to get rid of tenants etc. My side of the family wants to realize the profits one way or the other so we are thinking of selling or taking a buy out.

I think a full or at least a partial buyout is best as we will not be able to work well together due to different business philosophies  . I run a small delivery service and have 2 rental properties. I would like to increase my income asap and would like to do it through rental income or something similar. 

So feel free to give your feedback on the family property but almost more importantly I would like to know the best way to turn 100k into 3k-5k a month rental income or the like. I'm in Providence RI. Multi families are 200k-500k depending on the area. Thanks!