Using 203K loan for 4 units, refinance, convert to 6

[Nathan Wait]

Hello, My name is Nathan and I’m currently looking at a property zoned for 6 units. It is currently a duplex and a complete gut job. I was hoping to utilize the 203k loan to add enough sq footage for 6 units. Then, finish out four units, leaving 2 units completely unfinished as “storage.” I’d then refinance after the seasoning period and finish the last two units. Is it possible to leave around 2,000sqft unfinished in with the 203k loan? Are there any other forseeable snags I might run into with this idea? Thank you for your time, and I’d appreciate any feedback!