Hi, Does adding ADU to an existing Fourplex considered 5+ Commercial from loan stand point ?

I’m planning on maintaining the existing setbacks & building footprint so the structure will still be partially over the water thus complicating the raise & new foundation build.

His uncle still lives there (does not pay rent and does not want to move).I may build 2 SFRs and remodel the existing house and use it as ADU.It is almost impossible to find local comps (such a small house).What would be a fair offer from an investor's standpoint for such a deal?

The existing structure is about 3k sq ft and can be expandable to 6k sq ft (as per the listing).

Can I level the existing property and build a 4 Plex in its place?  

If anybody is interested in doing something similar or even buying existing property there for that reason as well, or building out cabins or apartments, whatever. we would be happy to help.

@Mark OliverSuggesting a partner or leveraging your equity in the existing properties to create a down payment!

I've got a ton of folks who can pour my foundation, but I'm looking for trustworthy, independent tradespeople that could pull my water, sewer, gas, and electricity out to this soon-to-be existing slab.I wonder how you all find these folks?

The safeguards and limits exists because it is THEIR money you have in your custody.

Just stick to your existing screening process and make no exceptions.