Using an FHA 203k loan

[Jose Vernaza]

I have been interested in a property in Cleveland, OH and I live in Orlando, FL. The property I am interested in will require full renovation as I may be considering Section 8 housing. My question is. Can I use an FHA 203 (k) loan if the property will not be owner occupied? If not are there similar options to finance the property and the rehab in one loan?

Thank you for your insight. 

[Bob Stevens]

Quote from @Jose Vernaza:

I have been interested in a property in Cleveland, OH and I live in Orlando, FL. The property I am interested in will require full renovation as I may be considering Section 8 housing. My question is. Can I use an FHA 203 (k) loan if the property will not be owner occupied? If not are there similar options to finance the property and the rehab in one loan?

Thank you for your insight. 

 DO NOT buy it UNLESS you have a team in place. DO NOT try and go it alone, you will 100% get crushed. I cannot stress enough, DO NOT BUY IT without a team.  Paying cash in the Cleveland markets is what you need to do to get the good deals,,,,,,