They'll then put up 100% of costs including selling/staging and we will manage the entire project from start to finish.At first I thought it sounded too good to be true.  

If its a shop local to the area and is not backed by a big hedge fund, you can definitely do some creative deals. 

I know to VA lets you assume the loan true a subject to method and thats my plan.any advice on how does that work?

This is especially true for private money loans, where lenders may want a clear picture of your assets, liabilities, and cash flow.Your credit report and tax returns are crucial, but a well-organized financial statement can strengthen your loan application, showing lenders that you have a clear handle on your financial situation.

For illustration purposes the cheaper Delta fixtures most investors purchase at Home Depot or Lowes aren't sold at plumbing supply stores because Delta licenses these less expensive options exclusively to the big box stores (same is true for other manufacturers as well).

You dont want to lie and say something that is not true.

Shop with an experienced investment focused broker to get multiple quoted terms!

I may have property that has an old abandoned auto shop I can remodel and repurpose to a commercial kitchen.

I flew down to the Madison area and stayed with friends while I house shopped.

Which is true - but the refi is going to cost you $3,000-$5,000 in closing costs again - which actually moves you backwards by a couple of years to recoup those costs at the $200 more per month you will make once rates get back down to 5.x%.My bet is that unless you can find some seriously undervalued real estate that your numbers won't look pretty at 8% interest (all in).