@Kendrick CarterI would suggest following the @the203kway on Instagram.If you plan to spend more than $35k in renovations or there are structural repairs, you will be required to use a 203k HUD consultant - who is a great resource throughout the entire process.In my opinion, building a cohesive team is most important - below is the path I followed:1) 203k HUD consultant > asked for lender referrals 2) 203k Lender > prequal letter provided 3) 203k Agent > had personal 203k experience and completed transactions previously4) Offer Accepted & Under Contract > completed HUD walk thru and scope of work provided 5) 203k Contractor > asked for referrals from everyone, and the one I found was currently working on 203k projects and understood the process I am now just awaiting the contractor quote to finalize the loan commitment process!

Understood.

@Benjamin HazlettI purchased one of our homes while long-distance and understood the hesitation.

I am just wondering if there is an alternative with financing or otherwise I have missed or not understood. 

However, after reading and informing myself I understood that I’d have a better ROI by getting an apartment that needs renovation and do rehab.The problem is that older building here are really crap old.

@Brendan Winans was relentless and matched my persistence, and I could not have connected with a better local agent that understood investors looking for the deal. 1 tenant got evicted during escrow, so in the 2 weeks following closing I was able to get a signed lease and received security deposit and rent for market rate.

We have seen this strategy work well for many clients as long as proper due diligence is performed and the PT rules are understood and followed. 

As this area isn't so regulated, how does one actually receive the" benefit of their bargain" if after committing to a loan, the different figures begin to drift those those understood as the agreement?

After speaking to the mortgage broker we used when purchasing the property we understood that we would be treated as non-residents and lending would be at 65% LTV max.

If I understood the report I could determine the deal.....we are thinking that once we refinance and add the mortgage in, we would end up with a negative monthly cash flow.