The Gc would have to go back to do the work to par so that funds can get released so the GC can move on to the next stage.The above is a bit more complex when do you do a 203k over 35k in total cost + reserves/fees since it requires a HUD/FHA consultant who goes in on the transaction to consult your GC to let them know what HUD requires and can incorporate a plan of upgrades with your needs and wants with whats required by HUD.Other than the construction complications, plans, surveys, bids, trips and conversations with the GC and HUD consultant, & disbursements of funds the 203k is a "regular FHA," loan when it comes to qualifying.From the lender point of view I tend to do a maximum assessment of buying/borrowing power first to determine if the borrowing power of the individual meets their price + rehab requirement.Sometimes when you know its around 4-5 bucks per sqft (interior) for a regular pitch roof for full tear off + new replacement comp shingle and the borrower has budgeted only 2-3 bucks a sqft you have to pad those numbers for them or do some homework on their subs to make sure your going to be able to qualify for more when the budget has cost over runs.I've found it best practice to over qualify for rehab variances since it always seems that people like to add on more during the bid / consultant stage.The one caveat with 203k programs that are not required with the conventional variant of rehab loan programs (Fannie Mae Home Style) is that on 203k you have to have min equity before you can qualify.

Check the timing so that it doesn't overlap with sporting or other big local events.Hold the open house for no more than 2 hours, so that you get the maximum number of buyers tripping over each other.Print out details on the wholesale property with your contact information. 

It will mean putting the kids in the car for the trip each time, but that would most likely be a simpler solution.

Just wanted to provide you some insight from our recent trip.  

Each trip to the store is about 1.5 hours, so the GC time is worth every penny.

During your trip, remind her that this $ came from your real estate investment!

Thats called  "character "      

Also, if seller is presenting this kind of character, he/she could be up to no good in other ways that could be a disadvantage to you in the end. 

I've had a number of friends go to Ferris, so I've made fairly regular trips up there.

The net worth requirement trips up some people.