You want to make sure your lender understand this as  lot do not and you will waste a lot of time if you are trying to borrow more then what you purchased the house for. 

@Austin Tessyes, you can get a loan to do a flip, but flipping still requires your own cash - it's typically impossible for a brand new investor to borrow an amount that covers all of the costs of a flip.  

I'm sure there are more FHA loan experts on the forum, but in general a borrower can only originate 1 FHA loan at a time since they are required to list the property as their primary residence and live in it for at least 1 year.

I was pushing to close on a property and had to borrow money just to make it happen.

Even on conventional renovation loans, most lenders and borrowers still use Certified 203k Contractors b/c the guidelines/timelines/rules/processes are almost identical.  

What we are seeing a lot of is defaulted investor loans in florida as those DSCR loans no longer make sense and went from a 1.1 down to a .7 pretty quickly with insurance and taxes and borrowers cannot afford them as they bought with no nest egg to pay for the shortage. 

While using financing does mean I don’t keep 100% of the profit due to borrowing costs, it allows me to take on multiple projects at once and operate in higher price ranges than if I were only using my own capital. 

One of our borrowers who successfully flips on the South Side (Dobson, Park Forest, etc.) is capitalizing on the abundance of discounted rehab properties (on market and off market via wholesalers and the such), which is a key strategy given rising rates. 

If you are getting a loan no there is no way to protect yourself from crushing your credit or having a foreclosure against you if you are the borrower. 

@Samuel Coronado I’ve worked with a few lending options that have no seasoning requirements and allow you to borrow based on the appraisal or after repair value irrespective of how long you’ve owned the property for.