Can I use a VA loan to start my real estate empire?

[Brian Decker]

As a vet, I qualify for a VA loan. I only have enough money to either put 20% down or renovate a property, so I figured I would use the VA loan to purchase a property with no money down and 100% financing and use my cash to renovate the property, then refinance for 80% of the ARV. Does anyone know how difficult it is to convert a VA loan to a standard mortgage after renovations are complete.

This will be my first investment property.