FHA financing a distressed duplex

[Armand Farr]

I'm looking to buy my first duplex with a 3.5% FHA loan. Ideally I'd like to buy a property that needs some work - not a complete gut rehab but maybe 20-40k of repairs total.

1. Are there restrictions on the condition of the MFH that I need to abide by? 

2. Can I combine the 3.5% down with a FHA 203k loan to fund the rehab?

Thanks!

[Shaun Weekes]

@Armand Farrokh

If you do a 203K you'll be able to do all your repairs and number on your list won't be relevant.  And yes you can put down 3.5% on a 203K.