Your broker/agent needs to determine the spaces highest and best use which may or may not be the way the interior space and exterior is currently laid out and designed.The question then becomes can you convert and invest the cash to the highest and best use and still make a good profit all costs considered?

I'm a licensed RE broker in WA and previously in PA. 

Hey @William Bauman,I'd connect with a mortgage lender and an agent/broker in your area.

I can give you a mortgage broker that I used.

Both my agent and mortgage broker tell me that we CANNOT move into the home prior to closing.This strikes me as odd because if I was currently renting the home and the owner decided to sell, under this FHA rule I would not blocked from purchase using an FHA loan because I am already occupying it.VERY confusing and I need the help of those "in the know"Thank you

We have worked with thousands of borrowers, and continue to, due to our superior customer service and knowledge of this business.

NOI of 100K - I would check on cap rates as in legitimate from a commercial real estate Broker in the area not how they are discussed on this website to determine actual value.

Best advice, grab a good full service broker especially on your first transaction. 

I had a Texas broker license for about 30 years and I have my opinion too. 

Try using a mortgage broker who will be willing to do 10 finance mortgage property.Best of luck!