How to Get Started in Utah (BRRRR, House Hack, Etc)

[Matthew Miles]

Hey BiggerPockets, 

I'm wondering if I can get some tips for starting out in Utah? My wife and I have saved up a down payment (between 3.5% - 10% depending on the property value, which means we'd probably need to go with an FHA type loan) and are ready to make our first purchase. We've been BiggerPockets members for quite a while and we've decided that house hacking or BRRRRing would be the best way to start. Ideally, we'd like to do a combo house hack/BRRRR, but is this even possible? We're trying to find a single family with an in-law unit or a small multifamily to buy at a discount, renovate, house hack instead of completely rent out, and then eventually refinance. What flaws to you see with that plan? Can that be done with a 203k loan? I know that banks usually don't lend on a property that is in pretty bad condition, so we've been looking at places just need cosmetic upgrades like kitchen, bathroom, finishing a basement or mud room, landscaping, etc. Could those types of renovations increase the ARV enough to even make it worth it?

Would anyone be willing to provide some rough estimates on kitchen renovations using medium quality materials and appliances for a small to medium sized kitchen (think 2 to 3 bedroom house around 2k sq ft) assuming we'd like to replace the cabinets, counter tops, and floors? And same for bathrooms? Or refer me to a trusted contractor that might be willing to trade some information for potential business down the road? 

Thank you all. Any advice would be greatly appreciated! 

Sincerely,
Matt & Carrie

[Susie Lowe]

 @matthew miles when I flip homes I usually have my three types of homes.  Walmart, Target, or Nordstrom.  

If you replace, countertop, cabinets, floors, backsplash, appliances

Walmart: 5-6k w/appliances

Target: 8-10k w/appliances

Nordstrom: 15-17k w/appliances

If you can salvage cabinets and just refinish them, you will save more money. What areas are you looking at? I can keep an eye for you, since I am constantly looking on the MLS for my clients who look for homes with MIL's.