Single family to multi-family

[Madelyn Graham]

Hello! My husband and I are looking to buy our first investment property and are going to house hack it. We’ve found the perfect property in the stanwood wa area. There are two original houses and a shop on 5 flat acres. The property is zoned r5 and single family with two buildings. We have a few issues the shop has a apartment with no permits and no records we would live there while renting the other two houses out. We would like to rent that out eventually when we move out is this a big liability? My next question is with funding. We aren’t approved for enough if we buy a single family. Property is priced at 800k we’re approved for 950k for a multi family but only 600k for a single family. One last thing does anyone have any idea how to rezone and what type of headache that is? Thank you!!