@Bob Bevis  I believe Bar Harbor Bank & Trust is still actively lending for investment properties, and covers NH, Maine & VT.- Tom

Well, on the surface that sounds high, but without visibility behind the scenes it's not fair for me to judge. 

If I have to go through all of this, might as well buy a real triplex.I spoke to the local home owner association president and he tells me triplex conversion, with fire escapes, bar in front windows would ruin the suburban feel of the area besides bringing in more traffic, overcrowding the schools and crime.Imagine all the problems an added basement apartment creates.The neighbor down the street who started the bruhaha, who was cited, combined the 2BR/1ba unit with the 1BR/1ba illegal unit, had a really large beautiful apartment.

As a side note during the last econimic recession, lenders basically put a freeze on borrowing or made the bar very high to quality.

I'm invested here because I believe we will continue to see growth and barring some kind of national economic crises, our local economists don't see any type of a downturn or recession looming. 

@Peter Nikic - this is pretty wild, I am currently posting from the bar at Alta.

They take care of all maintanence within the building, bar structural but that's what's insurance for.

Nick and Leticia,Why not raise that bar high and go for 80, or even 100 units.

Barring any structural or foundation issues I would like to see if this property could have potential. 

We did a total rehab of the apartment: replaced the flooring through the apartment; replaced the kitchen; added an opening with a bar between the kitchen and the living room; removed glass separation for the solarium and made dining room; repurposed a storage room to office space; a total renovation of the bathroom; all closets painted and door replaced; What was the outcome?