Anyone do an FHA 203k loan for one of their first properties?

[Ralph Naval]

Hi All, 

I am considering starting with an FHA 203k and house-hacking for my first rental investment property. My reason for this would be to minimize the competition around me for my search for multifamily properties.

May I get a general idea of what you guys/girls think of this? Especially as it compares to finding a move-in ready 2-4plex that will cash flow. 

And maybe you can share the approximate time frame it took to complete your projects before tenants were able to move in. 

Thanks,

Ralph