Bridge Loan --> FHA Loan

[Bradley Petras]

Hey BP,

I'm underwriting a Creative House-Hack
An A-Class new build 4-Plex needs about 25k / unit and a certificate of occupancy to achieve Rent Ready condition. The developer ran out of capital to finish the build and wants to liquidate the asset.

Would it be feasible to secure a bridge loan for the total project cost to finish out the units then REFI into an FHA Loan? I plan on living in one unit.With only 3.5% down (plus holding/closing costs) CoC would be through the roof.

Thanks in advance for any insight!