Double bonus if you can find another applicant who is objectively better qualified.

I'm limited on funds and my credit is not in the best shape to qualify for a traditional mortgage, hence why this strategy appeals to me.

@Mike S.And even then, I would try to make sure they qualify on their own.

I never feel qualify to give any advice.

203k loans does not have to be listed on the MLS for you to qualify.

@Mark Spidellfrom podcast 156 fame is active in Tulsa, you might want to reach out to him.I would think that you would have a difficult time getting funding from a traditional bank since you just lost your W2 income, but your wife should be able to qualify on her own to get you started.

I recommend that you find someone who can advise you further when you get closer to doing your first deal, and make sure they're well qualified to be giving you advice and don't have a conflict of interest in their advice.As far as deal analyzers go, biggerpockets has a decent one or you can pay for one on realeflow.  

Make sure that person is well qualified to give you advice.  

Are you wanting to use that income to qualify for a loan? 

If you did not know, your lender can use a percentage (about 75%) of market rent of legal units you will not be occupying to help qualify you for the mortgage.