On the other hand any MF with 4 units would be considered a residential loan, but the max that a bank would finance is $510K, otherwise this would be considered a "jumbo loan". 

Is it a residential property or commercial?

Yeah, that's what I figured, but then there are companies such as "AmericanHomes4Rent" that are buying up single-family residential. 

My question is if I should move back in (the upstairs unit is opening soon) to be able to get a residential rate as I am unsure what the rate would be as a loan for an investment property.Still very new to all of this and apologies for missing any obvious answers here.  

Corporations are connected when one corporation owns shares, of the other, that represent more than 10% of the votes and more than 10% of the corporation’s value.To set this up, I am assuming mortgages need to change from residential mortgages into commercial mortgages.

Scott Meyers in Indy is a specialist By all means.. go ahead..Would you give the same advice on someone who wanted to be a multi family or residential subdivision developer? 

Good question Raynard.As a non US resident I would likely  not have the option to borrow money from local banks etc .. 

@John Underwood in certain counties in TN like Davidson (nashville) you cannot get owner occupied permits in an LLC.99 % of owner occupied permits are for Residentially zoned properties.

In general, I'm curious if this is a good investment opportunity long-term and what other information I should know to help make the decision.Here are some of the numbers:Property Value: Estimating ~$800,000, but it hasn't been officially appraised since it was purchased 10 years at $500,000.Taxes: $4,000Insurance: $2,100Year Built: 19125 Total Units: 2Br/1Ba, 2Br/1Ba, 2Br/1Ba, 1Br/1Ba, StudioUtilities: Owner pays only water and trash.Mortgage: Despite being zoned as a 5-plex, the property has been approved for residential mortgage previously (one unit classified as storage during appraisal).Previous Gross Rents: $45,480 (previous owner was very generous with rent to family/friends)Estimated Gross Rents: $69,600 (based on market value)Previous Annual Expenses: $12,500 = 27% of gross rent. 

The plan is to convert the commercial space (currently 1 of the 4 units) to a residential unit, which I've already cleared with the city permit/inspections office and have spoken with an architect regarding the process.