This is an old question, but still very relevant to today - if not more so.
Closing is 45-60 days minimum. So keep your eye on any extensions/deadlines and make sure the realtor is as well. Otherwise you will be on the court house steps looking to buy it out of a complete circus. The Full K and Streamline K are only different in a couple ways - one allows load bearing work and anything that can be dreamed up (Full K) and requires the HUD Consultant, the other (Streamline) is generally for basic repairs/upgrades under $35k... but certain levels of copper theft and unique damage may flip it in to a Full K at U/W review. Your process? Qualification docs are basically the same... except on a Full K the Consultant builds the Work Write Up and HUD package (scope for the U/W & Appraiser to consider), and assists with bid. Honestly, this loan is saving the country one house at a time - so go forth and renovate.