He has flipped many houses and should be a good Influencer.

@Tariq Hakeem And I hope the people pushing for this understand that all electric heating/cooling costs substantially more than natural gas.

However, it is a really good idea to work with a contractor who either has 203k experience or has a substantial knowledge/understanding of the 203k through education.

In a perfect world, your first appraiser knows the second appraiser and can influence them. 

The property must be substantially rehabilitated.

Armed with a better understanding of the economics behind them, he purchased a flip at a substantial discount and finished the rehab.

@Tim Boylan every RE market has different demand so the old 2% rule probably dos not apply in your area under COVID 19 influence.

Of course finishes and material type will influence the price a lot.  

I then use my larger cashflow to plow my open HELOC low enough to put a substantial down payment on a property and enjoy higher cash flow, which accelerates the next purchase.Best of luck, no matter how you go forward!

For your first property, I wouldn't worry too much about it unless you have substantial outside assets.