As for the insurance situation, @Jaysen Medhurst is correct, that your insurance company will be concerned that you're using the property in a way that it wasn't technically intended, even if it's property setup for a three unit per building codes.

"Learn to code and create a coding portfolio to get a $100k job in just 18 weeks!"

@Scott Mac you've got to know where to invest in Detroit to avoid getting taken advantage of or just plain making a big mistake.Detroit investing is block-by-block, which is difficult for OOS investors to do.Zip codes are statistically too big.That's why we've spent considerable resources ranking Detroit's 183 Neighborhoods. 

I need help with etiquette and what to do Agree, check your state's Landlord Tenant code. 

Purchase price: $100,000 Sale price: $115,000 Purchased a 2 BR single family home in the 51106 zip code of Sioux City and wholesaled it to an investor that same week.

Is there anyone familiar with the building codes to see if its possible for me to build a multi unit home with this loan?

Hired a electrician (top of google page) who said the whole building was out of code and needed to be rewired at $18k/unit. 

I had to give them the bad news, there were no beach properties that cheap and the real prices are $1M to $5M.These articles pull the sales data for zip codes which can span over 100 sq miles, but then show the income data from a small area (1 to 10 sq miles) within the zip code. 

Additionally, you might want to install a fence with a self-locking gate and make sure all pool equipment is up to code.

Ensure all additions meet local building codes and have proper permits.In your specific case, converting the loft into a bedroom and adding a bathroom could be a smart move, potentially increasing your home's value and appeal to larger families.