A detached quad consisting of four one bed one bath units will cost significantly more than an infill quad consisting of four one bed one bath units etc..Lastly, there are very few zoning districts in Philadelphia that would allow for a 4 unit building to be constructed in Philadelphia on a parcel that is only 1,000 SF and from a practical standpoint the units will be quite small when you consider the need for open area and common halls/stairs.

note some localized regulations require creativity to envision

Do you know if the city has any STR regulations? 

I've operated MTRs in several markets and have seen 75-80% occupancy on MTRs that can't be rented as STRs due to regulations (ie we don't rent them as a hybrid MTR / STR strategy).

Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them.

Remember, before investing in a property, it is important to research local regulations and conduct thorough market analysis.

Therefore the federal government can regulate the transaction.

Whoever creates and sponsors the syndicate needs to comply with the SEC regulations for securities offerings UNLESS the offering qualifies for an EXEMPTION from registration.  

More government regulation…

Theory/paper won't always translate over well to actual practice.