My wife and I are trying to get into a house hacking situation on the south shore of MA. I spoke with a lender who has 203k experience, but expressed a lot of frustration.

He said that, from his experience, contractors will take advantage of the program and mark up their estimates 100% or more. For instance, they charge 35k for a kitchen remodel that would normally be 15k.

I understand that 203k loans can be a mixed bag, but does anyone have any insight they can share on the contractor bidding process? 

Thanks in advance