Experience with 203k loans. NEED ADVISE

[Allen McGlashing]

Hey guys so I am looking into getting a FHA 203k loan for my next investment I just wanted some input from people that had went through it. EXAMPLES: - Was it difficult to find contractors that would work with the 203k loan guidelines. - Did the government take long in paying the contractor. - Does the repairs need to be approved before starting the work. - how much of a roll does the lender have in the whole decision process. I feel like a 203k loan works for me cause my plan is to buy a 2-4 family closer to Cambridge/Boston that needs a lot of work fix it up, refinance, and rent it to tenants with a cash flow.