Hi Corey,The strategy we took with a 203k loan was to get into the 203k loan first, and pay the PMI, and then refinance as quickly as possible once the renovation was completed and we had brought the property value up, so we could get rid of the PMI.This is a more expensive option (you pay two sets of closing costs), but we couldn't afford the up-front costs on a conventional renovation loan, so it's what we did, and the numbers worked out once we evaluated the savings from eliminating the PMI.I would shop around different lenders to see what kind of conventional renovation loans they offer.

Debt to income ratio: They need to make sure that you can actually afford to pay the loan.

You must be smart to make enough to afford a 4k mortgage.  

However, it came from a place of great frustration.  

I moved back in no small part due to the accelerating real estate market here, where prices are still affordable. 

Timely, efficient, and affordable.

I would just get a decent, affordable storage shed and be done with it. 

I am beyond frustrated with them right now and happened upon this thread tonight and figured I'd chime in.

With my demanding full-time job and inability to outbid the all-too-common NYC cash buyers, I don't have enough free time to hunt down the affordable hidden deals (assuming there are any!)

And keep asking questions on here.As far as the # of units go, I would try and buy as many units I as could afford.