I haven't replaced carpet myself so I can't give advice on the scope of work, seems pretty straightforward though.As far as insurance, it depends on the deductible.

@Carmen Sognonvi, sounds like you are on the right path!  

I am interested in hearing your experiences, as I am in the very same path.

@Jay Brown, the path that @Cameron Lewis is taking actually has better financial consequences although it is slower - a preference thing.  

No wrong answer, just a lot of different outcomes and paths.  

Without my spouse's blessing, I wouldn't considering heading down this path.

I started down this path and abandoned it when the lender told me they would grant me $5000 for downpayment assistance (long story)6) As I would be looking at a gut rehab project so that I can find something within my price range and asked him how the 6months of mortgage payment deferral would work (HUD allows you to defer 6 months of mortgage payments into escrow in case you are not able to complete rehab and need to rent) he stated he was unsure but I would need to make all payments and they don't defer.your LO is starting to sound like he has zero experience with 203k. i would start looking at other lenders.

I'm not a fan of traditional education and career path, though I know it's a well worn one.

I've been listing to a man that owns over 4,000 apartment units and I tend to believe what he says and he thinks that apartments is only the good way to go and not to make investments on only other retail, office, or hotel business right now because most retail will continue going down versus on-line shopping with few exceptions and one of them is to acquire retail or office buildings in a high demand area and is in the path of growth and a good economy with diversity, population growth, and job growth and must positive cash flow on day 1.  

@Martin Zawarski - Can you elaborate on how you keep granite from being critical path in your schedules?