OP has another post asking about charging for redoing hardwood floors for (I presume) the same tenant.

Quote from @Jeremy Horton:Still, we are talking 1.4 properties a month (minimum), from getting past the learning curve to - finding the deals, managing the rehabbing, financing, hiring employees, getting prop management in place etc - on more than one property a month from beginning to end.Unless I missed something in the OP, I don't think "unit" equals "property" in this case.

Street parking (lots available), shared coin op laundry on property.

Tim W: As I stated in the OP, there is a lot of confusion with respect to titling a business as an LLC vs Sole Propriety.

its called being a land developer and there are 100 ways to skin this cat. the most money is made buying from the farmer and in the path of progress and let the zoning and market come to you.. next is entitlement process which is what the OP is talking about getting some sort of design and plans approved them flipping.Next is ( as it relates to SFR) putting the infrastructure in and selling shovel ready lots.then you have soup to nuts  buy raw land entitle it develop it and build your product be it resi or commercial or what have you. 

I just don’t want to have issues down the road if I were to look for co ops.

Another option would be to look into multi family properties in more fringe areas, but I would strongly suggest starting with the condo, don't even consider a Co-op. 

I own and rent out a NYC 1BR co-op currently worth around $400K while living in the city suburbs (in a SFH that I own with my husband).

We live in a co-op in queens, and have a little over $200,000 in equity in the home we live in.

Also, to OP-Demjan, it's hard to say whether the lender will ever waive a right, or generally any other party to a contract.