House Hack using VA (Renovation )Loan

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Hello everyone, Im looking to do my first hack using a Va loan. (Recently preapproved) Has anyone had any experience using the Va renovation loan in order to make property pass inspection? Also anyone in the Pittsburgh area with side by side duplexes they are looking to sell please reach out, not having the best luck with realtor and search engines..

@Sheldon Walker Unfortunately I do not have personal experience with the VA renovation loan yet. But I've been looking into it too, because I plan on using it when I get back from deployment. It seems like the home needs to pass inspection first before it can qualify for the loan. The home has to be livable, before the cosmetic upgrades that are being added. Maybe someone else here has first hand experience that can clarify, or knows lenders that will work around that requirement.

@Elise Bickel I was preapproved through NavyFed, but they don’t offer VA-Renovation loan, not sure what to do. Should I let the preapproval run out and seek another lender that also offers rehab loan. With NavyFed it seems like I’m screwed unless I find a turnkey under budget.

The VA Reno Loan is a good product but involves tons of paperwork. You have to make sure your both Loan Officer and Contractor are on the ball with things!

Wet blanket post incoming... colored by my local market.

There are some wholesale lenders that do VA reno, so anyone licensed to broker could offer VA reno if they choose. But pragmatically these(1) are so few and far between that it's not necessarily economical for a lender to specialize in this the way landlord loans are one of my specialties. It's a numbers/volume game. If someone had a live(1) deal that needed it in my state I'd do it, but the probability of that happening is sufficiently low that I'd much rather let other lenders waste their time with trying to get to that point. To keep probabilities within the realm of reality, it's best not to mix-and-match "VA Loan" with "Fixer Upper." But, hey, if someone wants to prove me wrong, do so with a fully executed purchase contract and make an "I told you so!" thread calling me out. :)

(1) "These" and "live" meaning actual fully ratified seller-signed (in writing, not verbal) purchase contracts, without which it's all academic.