Hot to get financing for a conversion from 1 family to 2 family

[Kevin Nembhard]

I am looking to purchase a single family home in Queens and convert it to a two family house.  I know the area needs to be zoned for that. I am trying to research and find out how can I get financing to do the construction  portion of the house. 

I am looking to purchase a single family for maximum $600,000. I would prefer if it needs a lot of work because I will be gutting it anyways. Would I be able to use a general contractor to file all the permits and all necessary non construction work? If not what and who would I need for this portion? How hard is it to get a loan for this type of construction?

If the house is in bad condition can I receive a 403k loan and use it to help finance a portion of the conversion or would I basically have to use it solely on fixing the structure as a 1 family unit?