SFH conversion to MFH

[Vincent Gurko]

Hello all,

I am a newby spending much of my time reading, learning and attempting to analyze potential deals (really just listings I come across in areas I am familiar with) and I've found one that has really struck a chord. 

I've narrowed down my goal search to a moderately distressed home with work that I can do myself or contract out to the GC's I know, and something that is already, or can be converted into a MFH - duplex minimum but preferably triplex or 4plex. I would be using my VA loan to house hack.

So I came across this listing in an area that isn't too far from where I live now - easy commute to work - but I am curious of some of the specifics.

- Claims the owners 'Currently the owners have architectural plans for a triplex which could be easily converted.'

Not sure what exactly this means. They have things drawn up and documented with the county? What should be my first steps in finding out more about these plans, are they sound, potential cost in doing so, etc.

- Sold in 'As Is' condition

Would this affect financing? If so, are there things I can do myself in order to still acquire this property using my VA loan to get it up to standards for approval?

- It is located directly across from what looks like a catholic/private school

Is this good or bad? High traffic, but does this create an incentive for renters? - As a note, I would live here for as little time as possible, leaning towards house hacking a second property should the first go well.

 I am writing this out quickly before work, will be adding more in throughout the day/this evening with more questions.

Thanks in advance to all reading, and happy holidays!