Advice for 203K situation on a 4-plex

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Need some advice. I've been an investor for about one year and have flipped two homes. My son, is excited about real estate investing and decided to house hack a four-plex. His first contractor took way too much money for the amount of work they completed and he had to fire them. Initial rehab estimates on this 1920 four-plex were too low. Asbestos was later discovered and now rehab will be much more. He's found a new contractor and is going through the bank 203K consultant to figure out what needs to be done and get bank approval. Problem is rehab has taken way too long and he's running out of money to carry the mortgage by himself. How can he get this thing across the finish line?

Yes and the bank may not allow it.  You have a 203k loan with the existing bank correct?  Are they not willing to bump up the estimates due to the increased rehab costs?

They don’t want to change to scope of work, which is ridiculous, since you almost always come across unknown issues when doing a renovation.  Process is very painful with massive paperwork and micromanaging of everything.  It’s like they don’t care if he defaults and they get the property back.  Makes me never want to do a 203K loan for myself.