Both 203k and HomeStyle are great products, there is not a "best".

In brief, the concept was to make lots that are City-owned available via a quit claim deed to residents or community groups within the specific neighborhood on the same block in order to stabilize communities through local investment. https://www.chicago.gov/city/en/depts/dcd/supp_info/large-lo...There were a few other historic land sale programs in addition to large lots.

Why put effort into providing a product that (a) your tenants may not want, (b) increases your workload, and (c) doesn't line your pocket?

You're signing up for an absolute meat grinder of a job with the hope that you can someday stabilize it and build something that could be put on cruise control or sold.As for tactical advice, tap into your network and alumni network.

At least for stabilized properties. 

In both cases, the product has more or less folded or become inaccessible.

A lot of lenders are starting to offer this product as well in response to the economy.Are you looking to purchase a condo in the Phoenix area as an LTR?

Any particular product type you are interested in?  

Does the spray can blend well with the rolled on product if there is a water stain to be covered?

I personally think the insurance market is going to stabilize, I may be in the minority, as I see in Florida there is some stabilization.I can see 5%.