If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

States Can Still Require Additional FilingsEven though 506(b) offerings are exempt from state registration, individual states can still require notice filings and fees.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

- Highly recommend REQUIRING tenants to get Renters Insurance and adding you, as the landlord, as additionally insured.

Additionally, I created MEC (Material Estimator Calculator), a unique residential renovation software that automatically calculates a bill of materials (BOM) based on the property’s condition.Overall, I’m thrilled to escape the Seattle rain and connect with fellow investors here in Arizona.

For me personally, our STR and our little inn provide more than half my family's income so I feel I have a fiduciary duty to my wife and kids to maximize that. 

I think it will hurt you in that you'll be too forgiving of people, try to make friends with the college kids your renting to or keep bringing it up all the time. 

The hard money 10% plus additional thousands in closing costs was too much to swallow. 

3) If we both die, will our kids have to pay tax on this refinanced money?

In addition to just posting your property on furnished finder, they were reaching out and building connections with hospital HR departments and recruiters to help place nurses in properties.