@Tanya Maslach try Padsplit.Only other option is to try to "bribe" a PMC to TRY it by offering to pay them more than their normal charges.Managing a Boarding House (room-by-room rental) is not as easy as owners think.

CHECK,Boarded-up windows?

Also the rental income of the units will allow you all to qualify for a higher loan amount.Best,Jamael RomansUnited Mortgage Corp LenderWoodbury NY

This can be a viable option for those who might not qualify for traditional financing methods.

If you have any questions regarding the real estate purchase (negotiation) process, the loans you might be qualified for (low downpayment or low interest rate options), or the insurance you may need for the purchase I can answer any of your questions.

Even if your city is on board, I'm sure the neighbors won't be thrilled with this operation opening up in their neighborhood.

I don't have exact floor plans, so I'm not sure if it would qualify for the 51% apartment sq. ft. necessary for a mixed use dscr loan. 

Borrowers need skin in the game.

A grading contractor should be consulted for further evaluation and repair.From the attic, some of the fascia boards and the ends of some of the roof sheathing were discolored in a manner consistent with water penetration.

If you do qualify you would basically be refinancing your current Heloc and use the new Heloc to pay it off the original Heloc.