Refinancing/appraisal for a 7 unit zoned as a 4 unit.

[David S.]

Hello.

In order for an apartment I purchased to appraise for enough money to pay back my loan, I need the appraisal to come back for a 7 unit using the income I make off the property as a basis of appraisal. 


It’s zoned as a 4 unit, which makes it a residential property and subject to appraisal using comps (not income as you would with a commercial property).


I’ve heard I need to be appraised as a “non confirming” 7 unit, and I’ll need something from the city called a “rebuild letter”. Do I need this to get the max appraisal, or is it unnecessary? Is this hard to acquire? Any advice? Thanks.