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Updated over 5 years ago,
Navigating my first 203K loan
Just came to terms with the seller on my first duplex. (yay) The plan is to house hack and eventually BRRR. Since I'm an owner occupant, I qualify for FHA 203K financing.
I've estimated the repairs to be under 30K so I shouldn't require an FHA consultant, but I'm guessing I need to choose a GC that has worked with 203K processes before. Everyone's telling me the 203K process is a long and aggravating.
Should I get a GC with 203K experience so he/she can bid on everything at once or should I hunt 203K contractors individually for each job? Will FHA even give me the option to choose?