Single Family Conversion to Duplex with FHA 203k Loan
In my local market I have found that good small multifamily homes are difficult to come by. Naturally, I began to ask myself, can I use a FHA 203k to convert a single family home with a basement (unfinished/finished) into a multifamily property? I have read a few post discussing the FHA 203k that I have found very helpful. One that deserves recognition is Steven Gesis's post "Secrets Everyone needs to know about using a 203k loan". It seems that this type of home conversion could be possible under a standard FHA 203k loan but I am not 100% about it.
Has anyone done this type of home conversion under a Standard 203k?
Does anyone know if this is possible?