I am an experienced renovator, having done work and management on all aspects of my own properties from the foundation up for 18 years.Since the State laws are new, I'm excited about the possibilities, and looking to chat with other Owner/Builders about the feasibility and pitfalls.I guess that my biggest open questions are about foundations and waste water management requirements in conjunction with an existing multi family building. 

As per the article from CAS below, it does require disclosure.

It might mean you can consider slightly higher purchase prices or invest in properties that require more rehab.

Buyers: How do you feel about the requirement for written agreements before seeing homes?

My goal is more appreciation than cash flow but would definitely avoid losing on both ends

I earn much higher returns than I ever did as a rental investor, with almost no work required on my part.

I calculate that a quadplex would make my effective rent $350 below what I'm paying in rent today and when its fully rented it would bring in $700.It takes longer to get the quad but it has a positive effect on my saving rate versus treading water in the duplex which requires me to move to "make" money.

Keep in mind, you are only required to live in that home for 12 months...but you may not be able to move your family every 12 months either. 

Cash flow for businesses require more time which usually means higher returns in $ amount, % of CoC Return is more difficult, and keep in mind your time. my rental takes a hour a month and maybe cash flows $100, $100/hour is nice, but took $60k.

Does the down payment and income requirements make it difficult for first time or low income buyers?