Residential to Commercial transition
Hello,
Given the competition and lack of inventory for smaller commercial (5 or more) properties I am wondering if a better strategy is to find a 4 unit (residential loan) and then add an additional unit or units and convert to commercial. This could be accomplished by converting a basement or garage to livable space. My question is, does the zoning have to be changed and does this have to be approved by the local township in advance? Does anyone have experience doing this? willing to share your experience?