Acquisition Cost RE VA Loan
As a Fix and Flip Investor, we were happy with the waiver on the FHA 90-day Flip Rule. Unfortunately now we are up against government control in regard to cost of acquisition and profit margin with a VA Loan. We have been told that the Investment Property cannot get a VA Loan if contract sales price is over 20% of the Investor's Acquisition Cost. Does anyone know the exact verbage of the rule? Does it include rehab costs as well as actual purchase price? Thanks. :D