At the end of the day I would check with your attorney, but I ran this interesting question by my Title Rep @First American. 

I feel this gives me the flexibility to find the right solution for my client and not just sell what my bank offers.I'll also throw in my 2 cents on common differences I've seen in my career:CDFIs - Because of their subsidized financing structure, they have the ability to be a low cost lender (and sometimes provide grants).

What does it cost to buy a laundromat?

One thing to consider is whether a two-family twproperty might provide better cash flow than a condo, especially with NYC’s high costs.

The seller will lose some rent, potentially incur costs to evict, possibly costs to clean out the units depending on your sales agreement.

Issues 1) even garage conversion ADUs in single family zoned areas typically cost more to build than the value that they add.  

The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal.

Visit the property and learn about various renovation stages, gain insights from our experienced investors / speaker, and learn strategies for evaluating deals, managing budgets, and maximizing ROI.What to expect:Property walkthroughsReview before photos and discuss transformation plansDive into real deal numbers—costs, profits, and challengesNetworking with industry prosOpen Q&A session to ask anything about the process

Leverage your construction expertise to accurately estimate rehab costs and streamline renovations, and focus on financing strategies like hard money or private loans for your BRRRR deals.

In option 2, your costs are $25k higher.