203k loan for first investment

[Hunter Sandoval]

Wondering if anyone can help me with listing pros and cons for a 203k loan on a property. It’s a foreclosure listed for 130k needs quite a bit of work. Possible 30-40k. Similar homes on the same street in good condition are going for 200-230k wondering if it would be a good investment to do the 203k loan and live in it for a year and then sell. What kind of hoops do I have to jump through for a 203k loan??...