A hypothetical question

[Evan Morgan]

Let's say there's a 5 unit rental that's off market. This property contains 0.152 acres of land mainly classified as APT 4-8 with a(n) APTMT 4-8 style building, built about 1900 , having BRICK exterior and TAR+GRAVEL roof cover, with 5 unit(s), 12 total room(s), 4 total bedroom(s), 5 total bath(s), 1 total half bath. There are three doors on the front of the building with an awning-style carport in the back. It valued at $310,500 in 2021. It also need some work. The brick needs to be maintained and the floors are sagging pretty badly, weatherproofing on doors and windows are shot and electricity is sub-par.

Here's the hypothetical. Would it be possible to rehab the building into 3 units and reclassify it as 3 townhouses? How would a first-time buyer with a net worth under $10,000 and fair credit score get financed for this property/potential project? Would it be possible?

I'm open to all ideas and speculation. Thank you.