Hard money on 4 unit property?

[Grant H.]

I'm looking for some advice regarding the possible purchase of a permitted 4 unit property, but it needs an entire renovation. During the renovation, the plan is to add a 5th unit in the attic. How will this effect the loan? Does this change the requirements to that of a commercial loan since it would eventually be a 5+ property or can i still qualify for a conventional? I've also been told that I may not be able to get a conventional loan because the house is currently unhabitable. Is this true? If so, is my only option to get a hard money loan? I would need the loan for the property itself and also a construction loan, which I have read that you can often bundle. Any advice or direction would be great.

The goal is to flip after the house is renovated and filled with tenants.