Though you can get this money back after a time, it initially reduces your cash out or requires you to bring additional dollars for down payment.As @Jay Hinrichs mentioned, I've seen private/hard money become more expensive and more selective. 

Do a rent search and select those areas that are more B- locations. 

I'll then select 5-10 and take a deeper dive into tax records to see what the final sale value was.

Select the "Network" tab and you'll find lots of lenders. 

Realtor - try to hire one who is NOT afraid of the 203k, preferably one that is excited about house hacking Lender - hire one with 203k experienceHUD Consultant - lender is ultimately responsible for the selection of the HUD approved FHA 203k ConsultantContractor - must meet any local license/registration requirements and has a GL insurance policy; good to hire one that is also bonded; strongly recommend hiring a contractor who has been properly educated on the 203k or has verified experience with the 203k, such as a Certified 203k ContractorYour only as strong as your weakest link ... select your partners wisely.

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At this time selecting the right buyer is like selecting a tenant.

.- I am very selective about tenants - higher-income families, with tenants having stable, longer tenure jobs (Even if they have not so good credit due to a divorce or other reason, which is why they're renting and not buying).- I give tenants a great living experience and dazzling offers on rent - property is kept up to date, top-notch maintenance service and upgrades.

I would suggest that you select a flip home that would also make a good rental property. 

So many different ways to invest, you need to decide on the answers to those questions before you select which city!