I am currently seeking to just manage the properties I have, I do not need to grow.

If these were easy, everyone would be snatching these up, just think about it :)  Finally, just knowing and being apart of hundreds of 203k transactions for our private client construction business, this is not a forgiving loan and encountering large challenges with the purchase, may influence your opinion of the simplicity of the 203k, if you intend on using a 203k, perhaps seek something that requires more work and remove yourself from this short sale.

Hi Everyone,We are newbies to BP Pro from the Big Apple and the niche we would like to know  about flipping houses and more about buy and hold. My wife and I own two multi-family properties under our belt and are look...

Back on the site after a long, multi-year hiatus (spent doing consulting work vs RE investing; now I'm back at it).  I was on Bigger Pockets years and years ago, and got into trouble (post deleted) for asking if anyon...

But more important I feel that it places all the risk upon me and give me no recourse.I am not looking for legal advice rather seeking opinion and insight.

I'm scared of having to pay the 10% penalty I think may be associated with withdrawing my funds early...

Seek them out.

The interest is 6.25% and can't be used for flips, as they charge a pre-payment penalty if you pay off the loan within the first 3 years. 

I"ve spent time building a foundation of knowledge on the local markets in PBC and am now actively seeking my first rental property

I am seeking advice/thoughts regarding this investment.