I know there is a FMV that Section 8 Housing Authority looks at but I don't know where to find it and it seems like the current rents are low.  

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..

It seems like there's a lot of variability in the category but I'd appreciate any experience this community would be willing to share!

To me it seems like you got a good deal!

@Will Boller, in a quick click around on Interval International's website (https://www.intervalworld.com/web/my/home) a major exchange for timeshare properties, it seems like it is 50/50 from my small sample looking at properties in the northeast USA, with a handful allowing Sunday weekly check-ins too.Granted, this exchange is not an Airbnb, but it is all weekly stays in condos run, presumably, by large professional operators that have studied this business to maximize revenue.  

Hello, so I've seen that FHA loans do not like you to rent out your property until after you've lived in it for a year, and then even then, they seemingly are not compatible at all with short-term rentals (under 30 days), like for Airbnb.

It seems like every town I look in has such strict regulations where you need to owner occupy your unit. 

If you can get him back to 50/50 that seems like a decent outcome given the situation.

Based on my market analysis, $2,100 seems reasonable for a 1,711 sqft condo in this area with a lack of apartments.

It seems at first glance many of the books cover the same material.