Hey Ed - this one wouldn't qualify with DSCR if one of the houses is your primary (assuming all are on the same tax parcel).

Also consider when you sell house with seller financing to owner occupied person as their primary residence you cannot balloon per Dodd Frank.  

What these $20 - 40k “mentorship’s” sell is a SHORTCUT, but it does NOT work because the PRIMARY real estate education and knowledge MUST be there in order to be able to implement and strategy or tactic correctly, at the correct time, and under the correct conditions.  

Hey,If "building class designation" is the same as zoning, then this seems like it can definitely be appraised as a two family, with both the legal and actual designation as a two family.Depending where in NYC, that may not help your valuation, as primary residences sometimes sell for more than investment properties, so check that out before challenging the appraisal and definitely before paying for another one.Double check all this with your lender/broker as well.Best of luck!

300k purchase + 10-15k closing + 80k remodel + 5k for refinance costs. 80k remodel number I got from my father who is a general contractor in the area. 500k ARV x .80% refi (because it would be my primary residence) = 400k minus 15k closing, 80k remodel, 5k refi cost = 300k my original purchase price.

Did your primary become rent controlled and if not what exempted it from rent control?  

I'd highly recommend getting a primary residence first or house hacking. 

Maybe you're in limbo renting for a year while the primary residence gets built.

I currently own my primary residence and have about 60k in equity.

HOWEVER, it's primary appeal is affordability rather than being a great or cool place to live.