I ran that house for 5 years while living in half of it.

The one issue I ran into that you may not if you go the 203k rehab route is that sellers are often much less likely to choose a FHA offer over a traditional mortgage or all cash offer due to the extra requirements of livability that FHA's have.

so an old park in WV to me as a new buyer who is looking to keep it running Is not worth what most sellers are going to think its worth..  250k to be fair was 40k remodeling the house.. but by the time I ran in new utls  power meters demo'd trailers re surface roads new water lines etc etc.. it just adds up.. 

Recently, I ran into an investment opportunity that I could not turn my back on.

I ran into this issue quite a bit as an investor, so I decided to become my own agent.

I’m right in the middle of my refinance of my first BRRRR property but I ran into an issue.  

This could work if you A) grew up in that area and understood the culture B) Had multiple and again able to spread the costs/problems...

When I ran it, I think it processed the rehab costs as a cash out of my pocket expense.

You have to be the type of person that will collect/evict as needed, you need to be the type that is either able to do work yourself for turnover or have a existing relationship with a crew, and you need to understand the culture of the neighborhood.I don't have any of that, so I don't buy that type of assets... and from the sounds of it like you I rather a higher class asset with different tenants.

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