Another option is a DSCR loan where some lenders have shorter seasoning or waiting periods- I've seen some that are three months which can make a big difference for an investor getting cash out of a deal and using it on a new project.More info on DSCR loans: DSCR loans won't use your income to underwrite the loan.

This is where you live in one side.

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Also Lets Say i take out the 155.000$ Loan and never pay it would it be like selling my house where the lender keeps my house as collateral for non payment Or do i loose my House and have to pay back the lender155,000$ that i barrowed? 

a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term).

Check out the STR forum where you'll find some great information and will see questions and answers from those who have successfully scaled STR businesses. 

I have came across the 203k loan where the numbers might work better if I find a good deal but there is alot that comes with the 203k loan and I want to make sure I am heading in the right direction.

Whether it’s reconfiguring layouts, adding square footage, or converting single-family homes into multi-unit rentals, the goal is to unlock value where others don’t see it.Distressed properties aren’t for everyone, but for those willing to put in the work, they offer some of the best returns in real estate. 

As sellers realize that buyers cannot pay the same price for the same income stream as before due to the higher rates dampening overall buyer returns over that 6-month market cycle, sellers will eventually transact at lower prices, making it more apparent to sellers where the current market pricing is.

Congratulations to your continued success.That said we would like some guidance on crafting a contract where we would partner with contractor to go in on a flip together.