There's a lot to learn but its definitely doable :) I agree with the comments about Avery Carl's book as a starting place and would also listen to at least 50 hours of youtube and podcast content on the topic.Good luck! 

If this was as doable as the say it is.

But these hurdles are doable.  

I'm currently priced out of Brooklyn as the homes here are almost always (1M +), so I started looking into nearby areas like Staten Island, which seems more doable at first glance..

I don't think that's doable unless its a bare bones metal building which the city may not allow and which would also not command $15 rent. 

The 203k is incredibly powerful, and absolutely doable anywhere with the right team.

What you want is doable, outlining your contract agreement in a non-binding LOI with the owner, for instance, referencing what you speak of, rent abatement, TI allowances if needed, due diligence time frame, and general lease terms needed.

You'll need to work with a General Contractor (GC) to get all figures dialed in before you get approved for the loan.Land Loans: These are definitely doable, however the terms are not the greatest.

We did have a phone conversation with the director of development at the city who said it seems doable.  

Totally doable but the plans have to start now.