Make sure you’re working with a lender who has experience with 203(k) loans and a contractor who understands the program’s requirements.2.Loan Process Can Be Slow – Unlike a standard mortgage, the lender will be heavily involved in the renovation funds, which means more paperwork and potential delays.3.Strict Repair Guidelines – The work has to improve the home’s safety and livability, so luxury upgrades usually don’t qualify.4.Living Through Renovations – If you go with a Limited 203(k) (up to $35K in repairs), it’s usually manageable, but for a Standard 203(k), major work might require you to live elsewhere for a bit.It’s a solid strategy, just make sure you’re working with the right lender and contractor so things go smoothly.

I live in Nashville - currently rent a 1bd apt for $1800 down town.

Hi Jose--I am local to Milwaukee--have lived here all of my life. 

I hope I can be able to make a living and would appreciate some help. 

If you were going to just do a remodel like a flip and not add living space I would say that would not get you more money.

Gave me a very basic education on the assisted living communities industry.

You'll want to double them for Class B, then double them again for Class C properties.If you're serious about the 4-plex, you should live in one unit an rent out the other units as STR or MTR, along with any other bedrooms in your unit, to max out cashflow for first 1-2 years. 

Buying a house for you to live in, that also generates income.

**For context I house hacked for about a year after she passed away but couldn't live in that house anymore and sold it.

For instance, you will be living next to others in addition to being their landlord.