I saw a deal for $389k 8 beds, 6 baths that I'm thinking to use a 203K Loan. never bought a house before.

Any 3 beds 2 baths 1500 sqf can be easily rented out around 3k.

The property is a 3 bed 3 bed 2 bed.

Some investors don't even get out of bed if it doesn't meet the 2% rule.  

But here are a few, I got from somewhere:Questions- Tell me a little about your home (how many beds, bathrooms, etc?)

The woman even told the pest control guy that the issue was on the main level.

That's where an experienced realtor can help.The comparable properties need to be as close to identical as possible in style (don't comp a bungalow with a colonial) and the number of beds, baths, square feet of living area and lot size, garage and basement specs, septic vs town sewer, year built and condition.A few things I use to look for regarding condition if I can't visit the property - updated kitchen and baths (granite/stainless, cabinets, backsplashes, lighting), landscaping (manicured vs overgrown) and the appearance of the interior rooms. 

How much would it cost to build a house around 3 bed 2 bath and around 1400 square feet? 

Also, yard service and pest control.

A hidden garden w/raised beds, storage shed & 4 parking spaces complete What made you interested in investing in this type of deal?