Financing an add-on for a Residential Investment Property

[Aaron Grenz]

I am looking at buying an investment property and adding on to the current structure. I have been calling bank lenders to see the best way to finance the deal, but keep running into road blocks. I would like to purchase the property with a residential home loan, hold the property for about a year, and then start the construction. Any ideas on lenders who would be willing to do a residential loan and then a construction to permanent residential loan for an investment property??

Is this the best approach to financing the deal or am I missing a better option?