VA Home Renovation Loan on Multi-family

[Austin Eichhorn]

I've been researching multifamily properties, but many of them are outdated in several ways—whether that's aging electrical wiring, a lack of central air, or roof issues. This isn't necessarily a dealbreaker, but I'd like to provide both myself (I plan to house hack) and my tenants with modern, comfortable living conditions. I also know that upgrades would make the property much more energy‑efficient and cost‑effective in the long run through lower utility bills.With that in mind, I'm considering using the VA renovation loan to update the electrical system, add central air, and address any other needed repairs or improvements within the budget.My main concern is that most of the multifamily properties I've looked at currently have tenants in place. How would tenant occupancy affect this process if I were to use the VA renovation loan? Would renovations even be possible while tenants are still living in the property? What are some important components I should consider?