will add it to my template response for why house hacking is better, why it works in expensive markets, and how the goal is not to 'cash flow.'

I'm considering the wrap option so that this time frame could be extended and he could be free to go get a new car, house, etc... without this mortgage effecting his ability to finance.

And you will have a better luck finding good inexpensive bookkeeper locally, support your local business :) 

One downfall is 203K is not a super easy program when it comes to processing and time frame.

Let me know if you have questions.Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

So, I told her I would lower the rent by $300 per month but we need to sign the lease quickly before my husband changes his mind (I did not specify the time frame.)

With this timeframe it will take several months to complete a rehab.

A property purchased today might be able to be refinanced in a couple years for a rate reduction and corresponding reduction in expenses. 2.

It's inexpensive and easy to build.

Hey Josh, BP resources are a great inexpensive way that provide more values than 99% of courses.