Scraping SFH and building apartment complex
Hi BP!
I live in a house that is on a lot zoned for high density MFH. I'm trying to educate myself on the process (if I decide that the economics make sense) of scraping my house and building a 12-unit apartment building. The zoning is not an issue.
Does anybody have experience with this?
Would I need to engage an architect?
Are there pre-published cookie-cutter plans I could buy and then provide to a builder?
Are there any resources on how to evaluate the economics?
Will a bank finance this? Assuming I have to pay off the existing mortgage before demolishing the existing house...
Any insights are greatly appreciated! If i left out any information, let me know and i'll try to clarify. Thanks!