Financing for converting Single Family to Multifamily?

[Blanche S. Christina Chisholm]

I am looking to buy a single family house and convert it to multifamily. It's an old family home that was sold some years ago but the current owners are open to selling it back to us. The "problem" is it is a large 6 bedroom (only 2 bath) house and it needs major renovations. I figured if we were going to have to gut it anyway why not convert it. I don't think I can use an FHA loan because I'm not a first time home buyer and I don't plan on living there. Any ideas on how the financing might work for the renovation to convert it from Single family to Multi? It is zoned for Multi so that's no worries.