After you talk to the code guy, you'll of course need an architect to write up professional plans that you can submit for the permits.

Business plan has been submitted and underwriting is underway.

I'm in the planning phases of a renovation and have an active renovation now. 

I am considering an investment in a commercial property with plans to improve and sell it within 4-6 years.

Informed Tenants two days ago that we are planning to sell the home (their lease ends at the end of June.

I look at it as this being the logical next step for a renter, and I would be happy to help any way I could as long as you were up front, honest and worked with me in planning when you would leave.

I plan to keep it long term.

I've had it 20 years and I plan on keeping it.  

Many beginners jump in without a plan leading to mismatched goals and markets.

Additionally, if you got a loan on top of your cash advance (say, you only had enough cash for a down payment) then I imagine you're also paying loan fees twice.This may all be fine and dandy if the numbers work, but is this a viable plan or a total gamble?