Non conforming property

[Judy Raymond]

I just found a property in my neighborhood in central Florida that is a lake waterfront property with a 1/1 duplex and a 1/1 cottage that would make a fabulous VRBO investment. I contacted a Mortgage Broker about it and was told that even though it is zoned single family and the units are approved, the fact that it is 3 units it is considered  non-conforming and would have to go through a Commercial lender. It is selling for $150,000 and is turnkey, it includes the furnishings. Even at 50% occupancy it would gross $60,000.00/year and I am a licensed contractor so I do all my own maintenance. Does anyone have any tips on which direction I should look to get financing for this property? I have some cash but right now most of it is tied up in a flip project I am waiting for it to sell. Thanks for any info.