I just came across the idea, but don’t quite understand how it works or if it would be worth pursuing.

I’m looking forward to hearing everyone’s thoughts and advice.Best,Kevin In Pittsburgh at least FHA isn't necessarily a problem, but you can't be super aggressive about you offer price with most sellers unless you're the only one interested/offering. 203k is tough to get accepted, but a typical FHA isn't the worst. 

Both investments can offer tax benefits, but real estate typically has the edge.

Typically will be rent by rent strategy (which is tough for none owner occupants) or College rental.   

@Sundone Boutvyseth-the lowest Down for a SFR  rental  property is  15% ...if you are able to  locate an  option with 10%  down - this is likely  going to be pricey  but if you need to minize the down - it  might be  worth  using 

@Kenny Bao typically I’ve found my work in connecting in off market deals 100+ units has left me spinning my tires.  

If you're insuring a home to replacement cost, insurance companies don't care about appraisals or what the home is worth.  

County has assessed for 200k but would be worth more due to the area they are building homes left and right on that road and they are selling 300k+ and up.

Waste of time, huge room for error and zero reason for a customer to do this.....any Contractor worth his salt will have better pricing/quality/selection on the big stuff and will have guys on his crew that can do those dreaded 'parts runs' for the little stuff. 

I don't have enough info to tell you if yours will be worth that.