For example can it use the equity to make improvements or purchase other properties?

The part that you're missing is to build/rebuild your reserves and improve your credit.

Do you have a plan to improve your credit score?

Growing markets and areas tends to have lower cap rates, same with properties with upside by rent increase of by improvements.

When trying to initially analyze small multifamily properties (2 to 4 units) listed on the MLS in different markets, can one reach out directly to the seller's agent to get basic rent roll, expenses, and recent CAPEX improvement information to do an initial analysis of the numbers and asking price?

I am very familiar with construction and run crews and do about 98% commercial TI(tenant improvement) work in the city high rises.

I think I am going to hold out anyways to turn over the units, get it at a slightly higher appraised value hopefully with some cosmetic improvements and higher rent roll. 

Second, I think this will really cause the city to descend into segregated ghettos, where low income renter districts are divided from high income owner occupant areas, no mixing as no homeowner would live in an area where properties are neglected (not by choice but by necessity given lack of any means of recouping investment in improvement), and no investor would buy in a high price area where there's no chance of rent increase as gentrification occurs. 

Are you concerned about the PMC doing the rehab to improve the property?

If I am familiar with an industry of home improvement contractors for example, and speak with them, meet with them, and they like the proposition to invest some money in me purchasing a property to re-sell, that is in of itself not an issue under the regulation for non-accredited?