Extreme remodel on a mobile home

[Jon Klaus]

I'm looking at a 4/3 mobile home on it's own city lot, and considering an extreme rehab. We would shore up the foundation, lift the roof, increase the height of the walls, add a new higher pitch roof, and redo all surfaces and fixtures. We would use SIP panels for the walls and roof. I'd spend way more than the home is worth, but less than a new build. Most of the current value is in the lot.

It will be to code, and in some ways, better (energy efficient and structurally) than other new conventional homes in the area.

Besides cost, another reason I'm looking at this is remodel permitting is easier than new construction permitting. We'd have grandfathered setbacks and fewer inspections if we rehab. We could also do the project in 3 months, rather than 5-6 on a new build.

This will be a nice home and "fit" the style of the new builds in the neighborhood.

Exit would be to sell for @ $300K. I have lots of questions to get answered, but here is the one I'm thinking about now. Will a bank lend on a property like this for the end buyer?