I'm a DIYer and feel like I can fix anything because I can examine what is there and replace or repair the discrepancy.  

I cannot express how nerve racking the waiting period between listing a house and getting an offer is, this was the first house I had sold, and then the escrow period was almost worse.

But I'm grateful for your wife's opportunity after the adjustment period to examine the possibility of doing something different, the opportunity you have both worked and bled for all these long years.

So to preemptively shut down lending has me personally wracking my brain.  

I am sure it was nerve recking

If the total renovation budget ends up bumping the deal outside of FHA loan limits, I'm considering re-examining this project from a development standpoint, which would obviously require the same group of people (with some private equity and without the 203(k) consultant).

Crazy they will do 90% LTV as that is over the federal reg amount and banks typically don't like to make exceptions (fed examiners don't like exceptions).

Nerve?

In a separate analysis where I examined zip codes and found properties that were sold and shortly later rented (both through MLS), I found 28273 to be the most profitable of the ones I looked at. 

I have been wanting to do this for a very long time and while it is a little nerve wracking that I am taking the steps to turn my dream into a reality, it is also so exciting.