Henry County market trends for owner occupant are dictated by the school districts. 

If it has an elevator, I assume maximum potential occupancy is 75% of the available SF.  

If rooming houses are not explicitly permitted (or restricted) in the area, what are the City by-law restrictions around occupancy (i.e. how many unrelated adults per dwelling unit)?

If you get any loan as an owner occupant, not as an investor, you need to live there for at least a year before you rent it out or flip it.  

hello, im a hvac /plumbing contractor and have done rei in the past and present. here is my idea and question. we have a property free and clear that  is 3.5 acres with income of $2500.00 of rent per mont on 4 old buildings. we did a market analysis and plans 3 years ago to build 72 apartments. everything looks good as far as zoning and city permits. the budget was 3.2M the property itself is worth 450k and the bankers gave us green light.we didn't move forward with it because os the risk of it, we forecasted that we would end up owing more than 2.5 M and we did not wanted to risk that much by ourselves. 2 years ago someone built 30 apartments lest than .5mille away from the property and they have 75-80% occupancy already.talking with my wife we come up with this idea, since we know construction business owners on almost all the trades and have done business with them and a person familiar with apartment building construction on the past. we would like to form a partnership with couple of them where they can own part of the business in exchange of their work (trade) and if any one wants to be more involve and want to put hard money their % would be more.do you think it can be done any legal issues? 

The same holds true for owner occupant buyers. 

The top unit will bring in 2700 monthly and the bottom will net 2250 based on the lowest occupancy rates.

It can be purchased by all other means ie Cash or Conventional financing by an owner occupant or investor(once it enters the extended period)

(They are on to the fix/flip investment, and prefer to sell to a first time buyer/owner occupant over an investor in many cases).

With a 401k loan, however, while the borrowed money won't be appreciating (or depreciating for the matter) in the market, it will be getting the interest that you pay yourself, rather than some other finance company.I'm sure there is a factor that I'm not considering, but seeing as the OP is probably going to get a loan anyway, I think that a 401k loan might be one of the best avenues, with the stipulation that he considers his occupation within the company very secure.