If you find a good one, you should be able to get it back on the market quick and have no problem finding a buyer.FHA 3-month anti-flip rules will really come into play if people are trying to turn over inventory quickly to that 150-250K buyer. 

You better have a damn good understanding of what you are doing before trying to play that game.

@Holly Scott outside of the contractor issue - this shouldn't be a huge deal - a roof permit is typically an inspection after completion, so depending on how nice the building dept plays you can probably get an after the fact permit so long as you explain the issue.The contractor not being able to show a permit was pulled is pretty telling.

Our lease allows us to sublease for one year minimums which we plan to do for about $2500/mth + utilities including escalation clause.In this cozy little neighborhood of upwardly mobile millennials looking for a fun place to live, work and play and the well healed Baby Boomers seeking a cute place to hang out, take long walks on the beach, bike the many miles of beautiful coastline, golf, fish or surf to your hearts content.  

It is the lender who "offers" the 203K but does not really know the ins and outs where the difficulties come into play hence everyone saying its more difficult to complete.  

Originally posted by Account Closed:@Joe Splitrock It would come into play if you have proof that an answer is wrong.

Down the road, when I have some capital to play with (mine or someone else's), I'd like to get into flipping properties.

I would be interested in hearing how it played out and what you learned from the process.

In deciding whether to buy a big multifamily property or not, does the fact that there has been a couple of shootings over a couple of years in the complex play a big role?

Thanks for the responses.I think the only play here is to divy up the community land among the current property owners.