I was hoping to get other owners to join me in protest but no one seems interested. 

Irvington is very similar to newark, which has very strict laws with regard to rent increases. 

Definitely go the legal route here, don't rent out the basement unless you have the OK from the relevant authorities--it's regulated for a reason (fire safety, carbon monoxide poisoning, etc.) and your insurance will not have your back if something goes wrong.

They provide flexibility and efficiency, especially for experienced investors.How have you found the terms and structure compared to traditional options?

Do you intend to purchase additional properties?

@Stuart Udis my thought was to spread the risk is why to partner.

I think LLCs are over rated unless you have to hold the property in one for financing like most DSCR lenders will require.

Anyone have tips for finding them and how to structure the deal to become lucrative for them as well?

Happy to connect with you!

There is plenty of good turnkey properties on the MLS for sale that would cashflow using the 1% rule and you wont have to overpay for them on a "promise".