Owner-Occupied Commercial Loan for rental property

[Jake Pham]

I saw a pretty good opportunity in San Diego. It is a mixed zone lot, currently has a commercial property(1200sqft) in the front and a house in the back (900 sqft). 

My end goal for this would be build 2 more rental units(600sqft each) on top of the commercial space and have it as a rental. Also rent out the commercial space in the front. 

Right now with Covid its pretty difficult to get an commercial investment loan due to the commercial space is not making any money, however the house in the back is rented out for $1550, which cover more than half the mortgage but not good enough to get investment loan.

I was thinking about getting an owner occupied commercial loan, maybe starting a business in the commercial space and eventually build on top, however as it being owner occupied, i have to own 51% of the property. If i build 1200 sqft for the 2 units on top and with the existing house in the back 900 sqft rented out. That mean i would only occupied the 1200 sqft commercial space which failed the 51% owner occupied requirement.

Anyone have any creative ways? Maybe my business can sublease the commercial space later on ? Or I can refinance to another loan ? Also if anyone is a commercial lender for San Diego please let me know.