On top of that, VA loans are great for buyers but they aren't always attractive to sellers due to stricter property condition and appraisal requirements than other types of loans and obviously they are not nearly as attractive to the seller as a clean, cash offer would be. 

It can also be a red flag for the back-up lender.But to answer your question, I did fund a loan within about 18 hours.

Repair Budget: $45k–$65k to complete construction and finish-outProjected All-In: ≈ $320k or lessProjected ARV: $380k–$425k based on local 3k sf compsExpected Rent Post-Reno: $2,300–$2,600/mo (Hephzibah 5-bed band)Financing Plan100% Disabled Vet → No VA Funding Fee30-yr fixed VA Renovation loan ≈ 6.25% interestRepair escrow to cover MPR items (post-closing completion)Questions for the community1.

These are called chattel loans.

New York is an expensive state due to purchase prices, Taxes, and mostly LTR due to seasonal and winter months.NY also carries a .25 rate add on to the rate or cost and unless you refinance using a CEMA loan you pay a ton more overall. 

You could use an FHA loan (as low as 3.5% down), live in one unit, rent the others, and have tenants cover most or all of your mortgage. 

Save for 5% down and use a conventional loan so you have fewer hoops to jump through. 

Because we are not using DSCR loans but Hard Money (as you mentioned in your subject line). 

Current Loan Balance is $205,500.

I’m still selective and look for buildings where about half the income comes from the residential units so the deal isn’t overly dependent on commercial lease income.I also aim for higher cap rates than I would with a straight multifamily deal, mainly because I need the extra cash flow to qualify for higher-leverage loans from community banks and credit unions once the property is stabilized.