Purchase with HML or VA or 203K

[Cindy West]

Hi everyone. I am new to real estate investing and have spent a little bit of time listening to the bigger pockets podcast, forums, and reading! I came to the conclusion that I would like to do a buy and hold strategy and focus on multifamily units. My goal is to start with a duplex, here in Florida! I have a few financing options and hopefully can get some feedback on these options. I have little money (10K) to start but I am committed to finding a way to make this happen. I have been prequalified for a VA home loan if that makes the analysis any different.

1) Buy a MFU with a hard money lender. Refinance 6-12 months later with a conventional loan. OR use my VA home loan to refinance (would love to know people's opinions on refinancing with a VA loan).

2) Buy a MFU with a 203K loan or a VA + VA renovation loan at the end of 2022 (due to the fact my apartment lease expires November 2021 & this would have to be my primary residence).

I am open to house hack but I am also fine with having tenants in the property.