@Chris Mason does that mean the 203k loan would have the rehab included in the amount?

But then why would they include you?

Here's the situation, we are in the process of taking down a property that also includes a neighboring vacant lot.

I've done lots of reading and research (including on this forum), but I'm looking to network with some real people who would be willing to share their experiences with me. 

It was a complete rehab except basement floor tile repair." estimates included in report".

If house hacking doesn't pan out, we are also looking at buying a small multi-family (again 2-4 units) in several areas, including Sacramento, CA; Reno, NV; Everett, WA; Tacoma, WA. 

The loan require 15% down payment and for the sake of this scenario we're not including financing or closing cost.

You are still held liable if they commit a crime on your property. 2012    Continuing issues with substandard housing conditions Rental Registration & Inspection Ordinance SMC 22.214 revised program developed with input from local rental owners. 2016 Significant rate of discrimination based on use of Section 8 voucher, disability and familial status found during 2015 testing program Source of Income Ordinance and “First in Time” rule SMC 14.08.020 amended to include source of income as protected class.

Personal loan can be used for any reason, including as down-payment for investment property.

Not to mention you probably did not include Holding Costs .