You can even be added to title during the purchase, though if you already have final approval it might be a tad inconvenient to get the needed addenda and everything ready.

Can you get approved by letting the lender know that once I buy the single home I will rent out the condo currently residing?

Do you take the first approved applicant or do you take multiple applications, hold them, and then choose the best one?

I am currently being pre-approved for a first time home buyers mortgage (not sure on fixed or not), and I imagine I would need roommates for income cushion if I move into a place.

Considering the zoning is R3 and the total sq footage for the lot is 4,000 here in Providence, I don't think I stand a chance to get the Building Department to approve/change it in their records.

And yes, they will ask for the leases on the property as a part of your loan approval. 

For instance, we are 2 months since approved for the loan and have only cut trees.

The fourplex only exists because the zoning has been grandfathered in, on paper it is R2.This is my understanding of how SB 330 would affect my project:If I raze the building, I can't build anything less than four units ("An affected city or an affected county shall not approve a housing development project that will require the demolition of occupied or vacant protected units, unless all of the following apply: (A) (i) The project will replace all existing or demolished protected units.)Additionally, because the units exist under rent control (market rate), the rents of the new buildings in the future must also be rent controlled.

I have been pre-approved for a 160K mortgage and am eager to find good people to work with in the area. 

When running my numbers is it safe to just use the approved HCVP rents for a 4 bedroom in that neighborhood or is that just the upper limit that the rent could be and I should expect to receive less?