It does also cap rent increases to no more than 8.5% which while annoying (probably most especially in NY, where price of living is high), does at the same time help the tenants out as well as helps stop tenants from leaving for no reason other than huge rent increases. 

You'll quickly learn that many investors who acquire deals in Atlanta implement a rent-by-the-room/co-living strategy.

.- Current Rent is 150$- $200 behind market avg.I am very comfortable in single family homes in this town (own 18 SFH rented and performing well).

I am not a conventional lender, but I am sure that there is some seasoning involved in living in the property to take out a HELOC. 

And unless they're strictly for living in full time & travelling, they're going to need to be stored somewhere, right? 

I'll be living in one side and renting out the other.

Not luxury to live in, but a classic piece of FLW architecture.

Goal is to slowly build up your real estate empire and live off with the passive incomes.

Sèmi-gloss even in living room and bedrooms? 

House hacking a single family home in Las Vegas would be a great start if your living situation allows that.