VA Loan To The Max!!
I have bought my first property using the VA Loan. I am currently rehabbing it such re-sanding floors, painting walls, added a privacy fence etc all to put the property on section 8 (voucher program) the FMR max for a 4 bedroom home is 2,490$ I will put it on the market for 2300$. Now after that is said and done I would then like to take out another VA loan but this time, a REHAB VA home loan. I want to buy a low priced but decent single family 3 bed room home for about under 140k use that rehab loan to fix and ADD a bedroom to the property and then put it on section 8. And then keep repeating the process until I can start pulling equity from the properties. My question is, is this strategy far-fetched? Am I missing anything? I don't have have any kids and I understand that I would have to live in each property for a year unless I can refinance. Is there a better way to achieve this process that I am missing?