Again, not a legal requirement as much as a good practice.

Investing is a great way to build on generational wealth, you will be required to take risks.

Everything required on a 203k is how every construction project should be handled.

@Eric Le Yes that would be a solid investment, I like that FHA and 203k loans only require 3.5% down.

Curious to hear what folks think this will do to mortgage rates, especially since it's arriving on the heels of a booming jobs report.

Our lender required the same thing as what you are saying so what we had to do was have my business partner sign a lease for us that stated when he would move in and how much he would pay in rent.

What is the income requirements for a cash-out refinance on a property?

Most lenders will require 3-6 months title seasoning on a cash out refi with a DSCR loan.

(Yes plenty of my acquisitions are "wrecks" as you call it, and require significant expense to be made great...). 

But most of those folks have been here for over 10 years.