Sometimes people will list it low knowing that there are repairs. 

So, this cost a bit more in closing costs BUT your are out 34,750 plus closing costs instead of putting down 25% of the 340k which 85k plus closing costs. 

There are a few more “big ticket” items that need to be considered (Minisplits & landscaping) but most of the major costs have already been accounted for on this property.We currently have a 30 year conventional mortgage with a 7.125% rate on a purchase price of $750k. 

Like someone else mentioned, FHA loans are good in low credit and high DTI scenarios, but tend to be less bang for the buck compared against conventional.

Not only is it a costly and hasselsome process to establish such, but at end it's an association of 4. 

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

Since you're new, start by narrowing down a strategy—house hacking is a great way to get started with low upfront costs.

Of course, I had to make additional assumptions about the cost of property taxes, insurance etc. 

Your question asking for detailed loan estimates from multiple lenders at the preapproval stage with  "exact cost to close" is very problematic. 

Speaking to a contractor, just to remodel 3 of the 8 buildings could cost around $750,000.