versus the additional rent you can earn both from the enlarged lower unit and the enhanced (with a deck) upper unit.  

Peace of mind.

These are just some suggestions to possibly enhancing your experience and holding on to your ambition of using the 203k.

Its probably overkill but it gives some peace of mind.The hardest part is avoiding just being overwhelmed.

That is why I keep adding to it and enhancing it all the time.

Kinda hard to find it's like around here, in fact almost impossible to find this kind of peace and view this close to everything.So for that reason we may live in this one and sell the next... after all you gotta live somewhere.Some facts about the market here: over 92% of the loans issued here are on Euribor plus margin, so averaging around 1.5% recently.

Similar units on craigslist are asking $35-$40 now but based on zillows recently sold units, I think my number is more realistic.So - I am stuck mulling over this deal now wondering if I'm in a little over my head for a first deal (some rehab/probable problem tenants), or, if this is actually a good opportunity for me to get into investing with minimal outlay and cash flow on day 1 (or 91, if I can get the tenants to go peacefully and get released after in a relatively short time).

The condition of the house is not so great, but the location is great, nice peaceful and safe neighborhood, not far from the highway, and local markets.

They can rent it out until they arrive and get all the benefits of the appreciation and tax write offs.They should always hold the property, wherever they are, in a family trust or land trust, as that will provide them with peace of mind when you have to deal with the property and they can avoid probate. 

Any old side gig will do the trick.When I started doing mass mailing, I did all my mailing by hand, till I reached 1,000 peaces per mail run, then I automated it.