It looks like you are doing an affordable build based on the cost but hard to say since you didnt provide info on the build itself such as square footage and finishes.

I  have a detailed reply above that explains it and provides the code citation to read as well

@Timothy Frazier  This will be tough as the HML will want a 1st position loan, but so will the other lender providing the rest of the funds. 

They are very nice and can be helpful providing you what you can and cannot build on your property (Set back, height restrictions, front look etc).

I'm excited to join this group of like-minded individuals passionate about real estate investing. 

We were surprised that Kiavi never thought to call the vendor of their software, or a database technician, to fix this.We provided the requested copy of our LLC articles of organization.

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

Definitely reach out to your insurance provider.

Do not simply trust a turn key provider, a wholesaler or even a real estate agent that is supposed to be looking for your best interest.

Though I would caution you on hard money lending until you understand the industry a bit better, that can be very rewarding but you have to be able to do your due diligence on deals because you're turning over your hard-earned money to an individuals project, often a flip.