Or even possible refinancing into a true 30 year fixed at a very low rate and favorable government agency terms.I use a title company and their lawyer for a professional standard docs and closing on owner financing--gets all the recording and escrow set up clearly and properly.

Sometimes the government also expands flood zone designations to areas that likely won't flood in order to force more homeowners to buy flood insurance, thus spreading out the government's risk and replenishing flood insurance funds (or so I've been told).

I still work full time at a government job, that I would like to leave in the near future.

Dealing with local governments is just part of doing business.  

Financing violations are up to $100,000 fines and or 10 years in federal prison, violations can be per day by the CFBP, if you're an institutional lender in the business of lending, a $1,000,000!

Welcome @Horacio Muro, my first government project was a painting and siding replacement for the City of Glendora down at La Fetra Senior Center, I love that job, easiest job I did.

He had two triplexes that he wanted to turned into six individual units.That said, I don't know of any federal programs aimed at doing conversions.

Your renters are not going to care about it, as it's a separate room with a closet, which to them is a bedroom (unless you are renting to some type of government rental program like Section 8).

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC.

BTW, I just finished a webinar to learn how government grants could also be used for different aspects of real estate investing; and also I am receiving daily emails from Tony Martinez regarding tax lien certificates.