4 "Condos" on a single tax parcel?

[Morgan Bentley]

Hello All,

I am currently under contract on a 4-plex, however I've run into an odd title/lending issue. 

In the title report, the property is listed as a condominium, yet all 4 units are associated with a single tax parcel and there is no HOA. From what I've figured out from my lawyer, the condo association was partially set up in 1980 between our building and several others identical to it in the area, but was never finished. The seller tried to get the condo association dissolved, however it was going to take a significant amount of time and funds that he was not willing to do it.

I was financing this deal using an FHA loan, however now that the title report says its a Condo, my lender says they cannot lend using the FHA program and that it is possible that I will have to get 4 separate conventional loans. My agent is also representing several other buyers purchasing a couple of the identical 4-plexes. All of these 4-plexes are identical and for sale by the same owner. The other buyers are doing a 25% down conventional and have no issues with the title report or running into the problem of having to do 4 separate loans.

Again, the trouble is that its on a single tax parcel, and as a results I am getting various lending advice / options. Any thoughts or advice on other lending possibilities? Will the FHA work since its a single tax parcel? Really any advice in this odd situation would be greatly appreciated!

Below is a picture of the property description on the title report and a link to the property. 

http://www.zillow.com/homedetails/6116-Glen-Mary-Ln-SE-Lacey-WA-98503/49418368_zpid/