VA approved condos in the NYC area

[Jesse Cole]

Hi, I'm a new forum member looking to make my first purchase with a VA loan I am a disabled veteran- not sure if I qualify for anything beneficial because of this). My issue is that it appears nearly impossible to find this type opportunity (VA approved condo)in Manhattan or Brooklyn where I prefer to buy as this purchase will be my primary residence to start my real estate portfolio. I have 350K cash which I would like to preserve to leverage my second property and build from there. If anyone has a strategy that they would like to share, I would appreciate the help. I would use a portion of my existing cash to renovate a fixer-upper if that would increase ROI on my initial investment. It is also my understanding that VA no money down max loan amounts are typically below what is needed for a high-cost area like New York City; and that 20% of the differential between the VA max no money down loan amount and the higher purchase price of real estate is needed to purchase a property with leverage that has a higher cost over the max zero money down amount. My plan is to live in the property for the first two years to take advantage of tax benefits. I'm new to REI so any guidance would be helpful. Thank you for your consideration and help!

-Jesse