I did verify that an FHA loan actually goes this high in Kings Country, NY: $1,472,550 :)  Besides saving you the FHA fee of $1000+ per month I think you can actually put slightly less down.5% of your purchase price is 64k. 

In addition, I strongly recommend that you verify all licenses and Insurance Policies. 1.

No debt outstanding, just shy of 100k liquid in savings, and a verified 800+ credit score.

Lotta people verify employment, but don't verify income - don't assume applicants all tell the truth.

I went through and called their previous landlords, called their employers to verify their income and employment, etc.

He sent me copies of the last couple checks he has received but how would I verify that these will be continuing until he returns to work?  

You only want to work with contractors that either have verified 203k experience or have been thoroughly educated on the 203k and who have sufficient financial capital to afford the startup costs and ongoing expenses associated with 203k's. 

Make sure you are verifying employment, back ground checks, and making sure they don't have any past judgements with other landlords.   

Hello CJ,I think you just need to verify your Title Company will do a double close.You might find this thread helpful: https://www.biggerpockets.com/...

Not every bank does 80% so verify that, and then pursue the ones that do until you get a pre-approval.