Mixed Use Property Conversion to Residential Worth it or not?

[Dominic Augustine]

I am a new bigger Pockets member and a new investor. I have not closed on my first deal yet, but am looking to utilize the FHA loan to its best leverage and get a 4 unit for my first one. With that my mortgage person had told me that FHA allows a mixed property of commercial to residential, but the residential has to be at least 51% of the sq. ft to qualify the loan. With that I found a property where on the ground level are two commercial units and the second floor are two apartments. I would need to convert one of the commercial units to residential to qualify and since the area does not have a ton of rentals possibly convert the other as well. In total the building would then have an additional (4) units (each commercial would get an additional one bed as well as a two bed) so (6) all together.

My question is, is it worth converting with all of the updates that would have to take place such as getting the bottom units up to code, possible sprinkler system, etc. and the needed acceptance of an architectural plan drawing from the city? 

I am starting to lean towards the No as it seems like it would be alot of extra cost, but do not know and don't want to miss out on a possible deal by not knowing. 

Also, could anyone recommend a good contractor in the Milwaukee area that I could walk through the property with the get a guesstimate?

Thank you Bigger Pocket Nation!