What's changed is the bar of required professionalism has raised, significantly. 

The requirements, costs and regulation is different in every state.

The function you require would make the difference on any potential referral.

So in sum a downpayment does not include all the cash onhand you are required to have.

Obviously, 203k experience is helpful with a contractor, but not required.  

I have a leak coming from under the tub which would require removing and replacing the tub and tile due to the damage it is causing in the downstairs apartment.

Typically with a property this size you require the schedule E tax transcripts of the seller from the IRS.

@Krishna Rayapudi,That may be a local requirement.

Both will likely require you to refi again in 5 to 10 years and rates could be higher than you can afford so I'd only recommend them if you're planning to sell the home before the rate period ends.

This does not require any money to start and to get deals closed.