If they don't know what they are doing and don't have 203k experience, your 203k process will usually resemble the Cleveland Browns on a Sunday afternoon.

Both units are furnished rentals on airbnb and vrbo, and doing well!

So yes if you manage yourself they can make a bit more but you are also laying for utilities, furnishings and any time a sofa is broken or a TV is stolen you have to replace it and is a sunk cost. 

In order to do that I would need to put mini-splits in each unit, currently have window ac,  get new windows, new roofs (already ordered) update kitchen, bathrooms, furnish the units, and will have to do 1 by 1 because I need to wait until the tenants move out, etc.  

I am putting together my first private loan deal for an investor and could use some advice...The approach is to utilize the private money loan to acquire the property (down payment, closing cost etc), use my own money to renovate and furnish (very little work is needed, more so cosmetic) and stand the property up as an Airbnb. 

They are already furnished right?

We are renting this as a fully furnished long term rental.

While it doesnt need to be a ton of the work, it does still involve liaising with tenants, cleaning the home, furnishing the home and dealing with repairs.

Month to month furnished w utilities (12k in plus 5k in furnishings = 17k in): 615/7380 (@20% vacancy) 4 years to equal flip profits.Also to consider… I’ve never been a landlord and have not figured in property management.

Rating will begin to resemble how risk is assessed for other types of insurance. 2) FEMA enters the technology age.