Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

It would be a tight budget but I do have money set aside for repairs.

Just so you know, Vrbo and Airbnb will not allow you to receive an inquiry through their platforms, and then take the booking off-platform, they want their cut of the money. 

But rule number 1 and 2 in investing is don’t lose money.

You think working harder equals making more money.

Use your own money?

Halethorpe/Elkridge/Glen Burnie are good as well but your money definitely won't go quite as far as Dundalk and Essex as everyone has hinted about here.  

But I didn’t need to worry–they had a lot of money!

Let them know you are shopping and tell them to give you their best offer (all on the same day), and state you will go with whomever can save you the most money. 

Why would someone buy now and make little money for the chance that the rates will adjust later?