There are a few things to know about 203k loans: There are "scope-of-work" plans that will be needed, and there is a HUD consultant (an FHA designated overseer of the project) that has to sign off on each stage of the project before draws can be issued to the contractors.

I have also worked with some architects that are incredibly talented with design and finish selection.Regardless of structural or not, there are non-structural changes you may wish to make that would still require drawings and permits.  

UtahAmericafirst 80% LTV on noo 65% LTV UtahArvest Bank AR, OK, AL, MO Bank of West (BNP Paribas) 60% LTV ELOCs BB&T will loan on a rental portfolioBBVA Compass Bellwether NH and MA 85% to 100%, draw 10 yrsBoeing employee credit union California: Cal Coast Credit Union and Fremont BankCitizens Bank -Minnesota, only in-state.

Since you would need to declare drawing on the hloc, the interest due would go against your dti even though you hadn't drawn on it until closing.

Ask your lender to draw up numbers based on a couple of scenarios.

Before every agent reading this goes completely off the handle, I completely understand what some agents are saying on here, about how much time and energy things can draw from you. 

Hot markets will likely appreciate another 10% min over the next two years if inventory doesn't increase so you can draw out your financial assumptions and calculate best, worst and likely case scenario's.

The only draw back was I am not able to close on the same day. 

A hard money lender may be a better route, as some will lend you up to 90% of ARV, usually with draws involved (i.e. you can draw the funds as the project progresses, so they know they're not just giving a check to someone that hasn't done any work.)Good luck!

Worth, not River Oaks, and I think that can keep prices down for both sales and rentals.Just seems ripe for gentrification or good solid rentals....but I think you have to have good resources in the area or some way to draw people in...Drive down Inspiration Lane for example.