Yes, there are 7 small one bedroom units and 4 effencey/studio units.

I'm wondering if I could buy a home with an attached garage and use 203k to convert the garage into a studio apartment which I would live in while renting out the rest of the house.

I can't stress this enough, take photos and video with audio to time stamp.

You can also look this up on their website.Given my understanding, I've run the numbers as a resident availing of a 25-year traditional mortgage on a few studio apartments priced around $82,000.

I definitely need to find a partner regardless of the help for getting this deal going because I've had a recent argument with the missus of the relationship and I'm pretty much alone on this adventure for FI....I've got time all day at work to listen to the info that I want to gain info and knowledge for helping anyone and everyone who wants to know more as long as the info is in audio format then I can learn it and assist or teach anyone else who wants that info.

Passed in 1982, the law prohibits tenants living illegally in former commercial or factory buildings to be evicted.Apparently, the intent of the law was to help struggling artists (not uber-wealthy celebs) living in Manhattan studios from getting tossed out for not paying rent.  

It has a studio apartment on the ground floor that i keep for my personal use.

No difference for 1-bedrooms and studios.

built 1955Annual Taxes $4,190.40● 2 2 Bedroom units rents $550● 9 1 bedroom units rents $450● 5 large studios rents $350● 5 small studios rents $300Total building sq ft 9,664NumbersMonthly Current rent $3,525.00 (all tenants )Total $1,186.07Cap Rate 0.32There no comps but property can be value over $200k once fully occupied and managewell.Your investment would be secured by property alone with purchase price under 100k.Repairs estimate 30-35k.I am proposing a loan of $95,000 with a open line of credit for repairs for 5 years, withoption of early payoff.$95,000.005 years$2,000 a monthShould I request some equity percentage like 50% when the sale happens or cash out refinance to pay back the principal in 5 years which ever happens.

Added a unit by dividing a large two bedroom into 2 studios.