where to go for rehab financing

[Rene Bee]

Hi Everyone, 

My mom owns a 2 family home that requires a gut renovation.  The home does not have a mortgage on it.  The cost to renovate will be over $100k. Once renovated the house will be over $300k. I'm looking for financing options to share with my mom.  She is not planning to live in the home (she does currently live there - right now it's vacant).  Once renovated but will fix up and I will ultimately find tenants and use the rental income to finance her living expenses.

What is the best way to get financing to renovate the home.  I was starting to look at 203k loans.  Thanks in advance!