I'm still learning about this type of lending but the appeal to me is that they don't consider personal income or tax returns, it does not need personal debt-to-income ratio qualifications, it's collateral based borrowing..

Roatan is in Honduras, not Mexico but based on what?

Still able to get 10% net caps based on cash purchases ,  Its all about your team .Good Luck 

@Devan WilsonThe nearest local lender to Oklahoma City with a physical office that has done a 203k in the past year is based out of Lawton, OK.This means that you will most likely be relying on larger national lenders for your 203k loan. 

It's important for investors to do their homework and make choices based on their goals and how much risk they are willing to take. 

As I've been looking for a while close to home, I'm considering expanding my search to anywhere around a 5-6 hour drive away (my parents and younger siblings still live in SD, and my work which I can do remote/flex is based in San Diego).I'm considering new markets and interested in feedback on what areas anyone suggest I start to narrow in on. 

Contact Hospitals/Government Bases/Companies directlySection 8/HUD (LTR)

So the amount will vary dramatically based on the home price. 

Based on comps from sales in the current market.2) How much will it cost to get the unit saleable?

All new LPs should at least run some of the ugly scenario numbers, based on the legalese in the OA/PPM etc. and see if the docs are really as risk aligned as they should be and/or are claimed to be.Most PPMs list a fee as a percentage and not with the dollar amount.