I hope I'm in the correct category. 

@Quandra Adams - your lender is correct and somewhat incorrect at the same time.  203k's allow for any renovation related fees- such as the HUD consultants work write-up ($400-$1000), draw inspections (up to $350 per and max of 5), title bring downs (typically about $100 per), architect (if your using one), engineering (if applicable), etc are allowed to be financed into your renovation budget. 

However, they sent their assistant who is a realtor who wants to submit the bid on my behalf.

Total number of bids were up a little this year again, but still nowhere near the 2013 bids.

@Christine H.Assuming your numbers are correct, it's pretty much a deal breaker...

Wholesaling in OKC isn't illegal if you use the correct language in your contract "and/or assigns" on the buyer line. 

If I set up such an arrangement, I would still be at risk unless he was insured correct?

@Stephen Lee you are correct.

Dan is correct about the winters.

  - being able to use projected rents when purchasing a multifamily to be able to qualify- ability to convert properties and increase or decrease units@Abel Curiel - you are correct - rates tend to be higher- normally 1/4 to 3/4% higher depending on factors and timing.