It seems like a win-win, especially with the simplified approval process and flexibility for multi-generational housing.

My son began the process of Multifamilies a few years back based on teaching of @Michael Blank.

I've never gone through the zoning change process that you mention although I've heard it can be very profitable.  

How are you approaching the process of lining up buyers for each property?

Just make sure you understand how to underwrite a property or partner with a Hard Money lender that can manage the process for you. 

Smart investors first focus on finding quality properties—such as those in thriving areas of Brooklyn or potential neighborhoods around Manhattan—and then reverse engineer the process by improving management, optimizing rental structures, or enhancing facilities to make it worthwhile.

Since this is my first go around - I'd really appreciate advice on the following:- any references on lawyers /firms to work with to go through the Barment and foreclosure process without breaking the bank.- Ball park ranges - what can I expect the cost of this process to be?

If they did it would likely go back to letting the cities do whatever they want to do, and those legislatures would have their process, so it is difficult and takes a lot of time.  

Any advice on the process above would be greatly appreciated.

PM's will have plenty of contractors to help streamline the process for you and limit your liability when dealing with contractors.