Apartment-flipping is still alive in the aftermath of the real estate crash for buyers who exploit the loopholes in an under-the-radar homeownership program for low-income New Yorkers, the Post reported. For those who make less than 165 percent of the average city income, co-ops are available through the program for between $250 and $40,000 in around 1,200 buildings in Manhattan, Brooklyn and the Bronx. While advocates say thousands of low-income New Yorkers have achieved homeownership this way, others say a lack of oversight leaves the door open for abuse, and many have been taking advantage by turning around and renting or reselling their new co-ops at market rates. And not all residents are economically disadvantaged: Housing Commissioner Margarita Lopez and City Council member Rosie Mendez are among the power players who live in so-called “low-income co-ops.” [Post]