FHA 203k loans- dream or nightmare?

[Lucas Hallenbeck]

Have been looking into different funding options to start up my investment properties and was presented with an article on FHA loans. I started doing some research and came across 203k loans and they seam to be a very good option to me, building up equity in the property with remodel and purchase price all covered in the one loan. Intrigued with the 3.5% down payment and up to 4 units being accepted i continued educating myself on them. I've read that they can be challenging loans and very drawn of process to be approved for was wondering if anyone has been through the 203k loan and if they could give me some feedback as to how the process went for them. Thanks for time and happy investing- luke