203k loan for foreclosure

[Marie Edwards]

Hello All, I'm just starting out and in search of my first investment property in Rochester, MN. I've listened to many many BP podcasts, read Brandon's little to no money down book, and done hours and hours of research but still have so much learn. I found an experienced 203k lender in the cities and have a list of possible HUD consultants. I'm mostly looking for duplexes (but not opposed to SFH's, though I think this will be a slower process since I will need to occupy for a year). I may have to be more patient in finding that *great deal* in my market, but I'm realizing foreclosures might be the route I should take in order to find the right deal. I need to talk to my lender but I thought I'd give a shout out to this community in hopes I can get some advice/opinions on using the 203k loan for foreclosures. What should I know? Am I limited to certain foreclosures since I will most likely be using a 203k loan? Any advice or tips/tricks is greatly appreciated - thank you!