Yes that is true, this is all contingent on zoning approval.But if it is.

The property is located in an AE flood zone and I am aware that it will require flood insurance.

The price they go into pending "at," is not disclosed however all you'll see is their asking price and a red mark say "pending."

I didn't want to start a post just asking for CPA or attorney recommendations but rather what are some red flags or bad experiences you might have had with these professionals along the way that I should look out for as I am vetting candidates?  

1) I would guess commercial, however your bank would tell you if they would let you "slide", getting the 4 plex in your name would open you up to getting a 30 year loan rather then the business 5 or 10 year balloon loans.2) To change retail to residential, you need to talk to your local zoning officer, and probably building inspector.

But here is my question, you say it's a single family home, are you sure that zoning allows for two family home there, i would check that first. just because it can be, does not mean you have the legal right to do it.

With those numbers you are bordering on war zone neighborhoods.

This one slipped through because the zoning RM-1 is correct for small multi family (4-units and  <).

So that's what I've been doing for the past two weeks - researching American modular home companies, looking at plans and trying to understand how that whole ecosystem comprised of planning/zoning people, builders and architects works.

But, those are, from what I hear, full of lots of red-tape and tiresome logistical processes, so you might just be better off going with the low-down payment loan anyway.