Subdividing property after purchase into three lots.

[Richard Audet]

I will be acquiring a loan to purchase a single family residence in South Carolina. The property records show the parcel having 3 lots from many years back. We contacted the county and were told we would just have to update the survey and we would be able to split the parcel into 3 lots. This property is currently owned by my private investor and we will shortly be cashing him out. The existing house on the property is being rented as an STR. One of the lots would be built on and also used as a STR. The last lot would be built on and used as our primary residence. My questions are, how should I structure the loan if I am going to subdivide the property shortly after the purchase? Would I be more than likely applying for a commercial loan or a residential loan? Would I have to refinance after the splits?

Rich Audet