Additionally they furnish the apartment and have community managers that set up social events. 

But I have two kids and a horrible commute living in NY so I don't have a lot of time for outside real estate investing.  

I plan to refi in the spring with a reasonable expected appraisal value to come back around 82k without doing any additional upgrades.

Rent control does not apply to SFRs, but it might apply if that SFR has a guest house and considered an additional dwelling unit.

Feel free to ask anything additional if you need.  

I used the FHA route for the lower downpayment and FHA will also use 75% of market rents for additional units to help calculate your borrowing capacity.  

My understanding is that in addition to income requirements, minimum credit scores, etc, in order to qualify for FHA or Dream Maker loans, you must be a first-time homebuyer (defined as someone who has not owned a home in the previous 3 years) thus you may not be eligible for Dream Maker loan either. 

I am sort of asking with a single basic flip example in mind, but I have a potential additional application where I think it could potentially make sense.

Opens doors to additional streams of income. 

I'm not looking to analyze the deal here but to see if anyone has seen these and what the additional issues might be compared to a normal duplex.