The difference is an interest rate of ~4.2% vs. commercial loan of 6-9%, which is a pretty huge deal when you consider a 4-plex would fall under a regular mortgage at 4% or less potentially.I see where you're driving with this though as to creating equity and utilizing that later.If anyone knows about SBA regulations for investment property (especially for Oregon) I'd still love to hear it :)-Joe

In that case only regulation is by that states securities board or agency.

I don't like condos for rentals at all, mostly due to high HOA fees and HOA regulations, plus you don't actually own the land just the unit.

There is no required holding period in the code, regulations or rulings other than you be able to demonstrate that you did in fact have the intent to hold for rental, investment or business use. 

This alone will cost $20k and yet we dont know i FHA regulation will be fine with the room as is since the doorway is actually much higher than the storage space entry (crossover).

I would definitely consult an Elder Law Attorney to determine what the rules and regulations are for the state your mother will be living.Another recommendation is to have your mother live in a home she owns or rents with full time live in caregivers.

The local state agency that regulates financial institutions will be interested if there is clear "bait and switch" and other weird stuff going on.  

In order to exist is any hostile environment you must understand what makes it hostile.

Check your state regulations and see what it takes to set one up.

Are all the laws and regulations on the test?