Quick question, advice for multi-unit

[Tatyana Edgeworth]

Hello everyone! My name is Tatyana and I am interested in moving from California and into Texas to start house hacking a duplex and use the BRRRR method. My question is, in the Houston area there are some multi units that's new construction or that very old. I do not mind doing work but my concern is how to go about FHA 203k loan. Or am I supposed to have the fix up money already saved? I am trying to figure out how to approach this without running out of money. If you have any advice that would be great!

[Paul Welden]

@Tatyana Edgeworth

The 203k will include your purchase money + rehab money into 1 loan. You will need 3.5% down payment based on total loan amount plus money for closing costs which could be an extra 2%-5% of your loan amount. 
And with a duplex, you can use 75% of the market rent for the side you will not live in to help you income qualify for the 203k, if you need it. 
There is a pretty cool FAQ on the 203k that even discusses the recommended steps and process for a successful 203k.