Very cool that you are analyzing a deal that might work for you.

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.

Good concept but so much red tape it does keep us little guys out unless the qualified developers are willing to bring us into their deals.

Through my experience, I’ve cultivated a conservative approach that balances opportunity with risk management that I apply to every deal that crosses my desk.

I'd underwrite the deal as any other - make sure you are conformable with the quality & tenant base. 

I do the occasional Big Island deal - either side.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

If you can get a note for 200K at no interest and you have completed your due diligence on this deal, then go for it. 

Evan Hiller was quoted in the Wall Street Journal article about the Nightingale/Crowdstreet deal debacle:https://www.riggsdavie.com/team/evan-c-hiller

Each corporation runs differently so some are easy to deal with and some not so much.