Split commercial into part residential
Refi ?
I own a commercial property that has a gas station/ restaurant. It’s sits on +/- 1.5 acres. There’s a pole barn we converted to an axe house on half acre. I have $70,000 debt on the total property. 6 years ago, I had it surveyed into 3 parcels - .5 acre gas station , .5 acre vacant lot, . 5 acre axe house. I want to get a new address for the pole barn and the vacant lot. That will show those properties with no debt as the loan is attached to the original address. I then want to do a cash out refi on those properties to remodel the axe house into a residential home. What type of loan would be best suited for the remodel? I don’t have a lot of cash reserves at this time.