Developing SFH in to 4-Unit
Hello BP Nation!
I am in contract to purchase a SFH with conventional mortgage in Boise, ID. The great thing about this house, is it sits on commercial zoned property and after speaking to an Architect, I can fit 4 MAYBE 5 units on it. I'm looking for recommendations and/or guidance on how I can best finance this whole project with little to no money down. Pros and Cons for going with a Construction Loan from a local bank that is separate from my mortgage? Residential vs. Commercial construction loan strategies? Pros and Cons of utilizing a Renovation loan from my mortgage lender in tandem with the mortgage? Any suggestions and discussion is welcome...thanks!