In Wichita, Kansas, the typical property price ranges from $180,000 to $220,000, so there's a strong possibility you'll locate properties that fit the plan, particularly if you can buy distressed properties for less than market value.Rent-to-Price Ratio: To evaluate the possible cash flow from rental properties, analyze the rent-to-price ratio in your market.

But I don't think that should change your refinance or how the 203k is utilized. 

Typically, any 10% 2nd home loan has that stipulation.

You need to be able to turn a profit, the property typically has to be in an urban or suburban setting, you need skin in the game (down payment) & in most cases decent credit.

@Mike MutabaziHi being a hard money lender myself typically your fico score and experience will play a big role.

Potential opportunity - there is an attached utility closet that I believe could and/or used to serve this purpose as it has the red/ blue inlets built into the wall next to a hot water heater that is also in the closet.

Real estate is also typically the most expensive purchase a person will make in their lifetime, so that also means in can potentially make them significant money or lose significant money.I got started because my w2 is in real estate.

Typical rates are 8-12% of income either monthly or yearly depending on manager.

Luckily, home prices typically reflect this as well. 

Lease Options: This is better than a typical lease because there is an expectation that they will buy and in many cases, you can make the tenant responsible for some of the maintenance and also you get some option money.3.