My recommendation is to speak with a loan officer that understands both products in detail - not many loan officers will be fluent in both of these products so get recommendations and read reviews.  

I will provide detailed numbers below, but suffice it to say that this property barely breaks even after expenses and has proven to be a worthless use of the significant equity I hold in the property.

Feel free to PM me if you want to connect and talk details.

I also grew up here (I'm a 46er) so I know the finer details of the neighborhoods.

- https://www.realtor.com/realestateandhomes-detail/3661-Alter-Pl_Cincinnati_OH_45229_M49661-05795?

They do not go into detail as to what needs to be fixed or what your repair cost will be.

I’m sure it could work, but there are a lot of murky details. - Who sets the sale price?

@Elvis Vasquez Hi Elvis- I would need to know more details but typically a 203k will allow you to fix illegal conversions and get it up to code.   

Look it up for more details.

Purchase was in year 5 for $200k.Offer letter was detailed and described my reasoning for the offer and had a picture of the family and kids on it (play to the audience).Offer was refused.