203K loan questions and referral

[Will C.]

Hello BP friends,

Im interested in possibly utilizing a 203k loan for my first investment for either a SFH or MFH. Are their any disadvantages in using 203K? Are their any negative implications to possible forced equity after the rehab is complete? What should I watch out for in analyzing deals using 203K?

Seems fairly straightforward other than the extra hurdles you go through. Seems it is wise to have a savvy 203K consultant and GC to help guide you through the process. 

Folks in Richmond, VA that have gone the 203k rout, do you recommend any good GC that specialize in 203K?

Thanks All