I don't see non conforming houses like this rising in value.

I would use a part of that money to advertise for real estate wanted, both houses and commercial as well as non-conforming properties.

(no connection; I used to work for ML 12 years ago)It's interest only for 10 years (at an adjustable rate, LIBOR-1-mo + 1.625%), then is a 15-year amortization of the principal (at the same adjustable rate).Upside: They don't have to abide by the conforming mortgage limits as it's underwritten in-house.Downside: It's adjustable.

If the wiring conforms to code requirements, then I can't see how the cost would fall to you to make this new installation.However, there could be an actual issue. 

When you say "non conforming" is this legal non conforming or illegal (ie not permitted) non conforming?

So if you used a broker you could make sure the loan is shopped out as Fannie conforming.  

In order to sell them to Fannie or Freddie they have to conform to the types of loans they will buy, hence the phrases conforming and non-conforming loans. 

My standard (which conforms to Nevada laws) is that rent is due on the 1st.

Titled 4-plex with a non-conforming unit cash flows approx $6900/month.

So even if there is not a single dollar of equity/value "created" on the build (assuming I like it as a "build and hold"), I should still have 25% equity to get a long-term conforming loan when it is done also..