Used to be double and now it's only about a 20%-30% premium for non-conforming.

Notes can also be classified as conforming or non conforming, Dodd Frank compliant or exception, performing or non performing.  

Below is a 13 month chart showing $/SF for all conforming rental properties.

This is all spread out on about 1/2 acre lot.The owner when I took the tour was talking about them being permitted as non-conforming structures and as additional living space.

This could vastly affect the value of your appraisal as opposed to being a true fourplex which is 4 units sitting on a conforming lot zoned for 4 units with one tax APN#.

If you haven't maxed out your Fannie Mae Freddie Mac conforming residential loans I would do that first.  

With your savings you will probably fit in the square box of a conforming loan of some kind for the first one.

The insurance company has just come back to us this week saying they are considering cancelling our coverage due to a list of non conforming items; most of which we already have, or are in the process of fixing.One of the issues was a neglected tree which had large tree limbs resting on the roof of the detached garage.

Three families are built to a different standard than two, and if you do a conversion, must conform to current codes.

I presume this is not a state issue, although Indiana state law may require an even more stringent conformance.