Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

By using the BRRRR strategy, you only need to put down money once.

Of course most GPs have personally put in money to keep the deals from sinking.

You can attend all the REIAs and read all the books and sign up for all the conferences, and spend all the money, and you are will never really know you can do it until you do.Over 20 years in real estate in various forms and roles, action will beat out intelligence or education or even network 100% of the time.  

Hard money for acquisition and I financed the rehab myself.

Just cause they make a lot of money doesn't mean they can afford to make mistakes.It's usually these types that are the least careful about their money. 

You think working harder equals making more money.

As far as benefit to the seller goes, @Matthew Paul I think you are probably right on the money and regardless of whether they would have preferred to stay in this house rather than move, it is likely providing them some excellent cash flow; and I'd be hard-pressed to come up with a deal that serves both parties better than the current situation. 

There are less expensive hard money lenders out there. 

Co-living I like a bit more because you have less money needed for furnishing a property and CO laws allow it in the major cities unlike STRs.