FHA 203K REHAB

[Ben C.]

I am wondering if anyone can shed some light on their experiences with this type of loan on an investment property (have heard it requires tons of patience)?

Is it true that they require the contractor to begin the job fronting the startup costs himself (trying to put myself in his shoes)?

Also, do you know of any other alternatives to the FHA 203k with the big banks here in NJ?

Thank you!