That will allow you to build the additional legal space further amplifying the value of the proprety (more HELOC money). 

I'm not sure why not - one of the great parts about real estate investing is that you can build a team around you for aspects you aren't as strong at or simply want to delegate to someone/expert and do the others yourself - look up "Core 4" for example - where you can have an agent, lender, manager, contractor all at once for your investments and can theoretically just let them do all the interactive work

Building Fire Stations? 

Here is a video that runs down the basics - https://s-media.nyc.gov/agencies/specialenforcement/01-Legal...There is also a prohibited building list - https://www.nyc.gov/site/specialenforcement/registration-law...Here are some more info overall - https://www.nyc.gov/site/specialenforcement/registration-law..All of this makes STRs in the city pretty tough but it certainly not impossible.

She approached me an indicated her landlord was selling the building and would I be interested.

I'm a single father, been raising my two daughters since they were born, and am ready to start building my wealth through real-estate.

We are going to look at a 5 room apartment building next week for STR and MTR use.

Quote from @Kolby Knickerbocker:  Have you considered building here in Central Oregon or an STR here? 

I find that amusing as I was told I was buying the last “two” buildings and I better hurry or they would be gone.

After that you want to build the relationship.