ROI on property should be consistent with or likely surpass your 401k.  

While we'll probably never surpass the other boroughs like Brooklyn, we directly feed off of their market and that's where the bulk of my buyers/investors have been coming from. 

Time is your friend with all investment strategies, so do as much as you can as early as you can.... postpone some of the personal "wants" until you have built a strong rental portfolio (if that is your investing focus) to provide steady income that surpasses your base pay.  

Looks like we will also surpass Pittsburgh soon.  

You should easily surpass the expense in income or cash saved with your goals.

I can think of three main reasons this ordinance will backfire, and why they should not do it.1)  HUD's own maximum allowable rent is being easily surpassed by the market.  

At the end of their rehab, they had a solid rental property that well surpassed the 1% rule.

.- Evaluate your contractors at least as strictly as you evaluate the deal itself, and be willing to pay a higher rate for a contractor that surpasses your scrutiny.

And as I've mentioned above, the benefits of wholesaling to the seller can still exist (and even surpass) by using a licensed agent to help sell.  

One of the only ways to hit and maybe surpass that rule a little is to develop alternate income streams on the property, which you already alluded to.