BRRRR With a VA Loan

[Robert Reyna]

I have devised a plan and need y'alls help to tell me if this is even possible and the obstacles I'm going to run into because I know for a fact I'm gonna run into a lot and this might not even work. I was thinking about how I could potentially use BRRRR through a VA loan because of the 0% down other than the funding fee. The plan goes like this.

I would use the VA loan to buy a multi family property that needs some TLC and would appreciate in value after some renovations, live in it and rent it out for The remainder of the seasoning period before I am able to refinance. Once the seasoning period is up I would refinance into a conventional loan, my entitlement would be restored and I could then be able to buy a second multi family property the same as the first one through the VA loan, I would rent it out, make renovations and live in it for the seasoning period again. At this point I have two properties. After the seasoning period for both loans to be refinanced (conventional and VA loan) I would refinance the conventional loan, and I would refinance the va loan into another conventional loan again, at this point I would have 4 properties. At this point you get the gist of what I am trying to do, since the seasoning period for both VA loans and Conventional are around 6 months I would be able to do this process around twice a year or year and a half, that would mean getting 4 new properties a year.

Now that y'all see what I have going can you please tell me what I am going to be running into and if this is even feasible? I have just secured a VA loan for 200k (the amount I wanted) and found a really good Tri-Plex for $185k. I don't know if I will be breaking rules doing this but it seems like a pretty good plan if it's possible, I would just use the VA loan for the no down payment just funding fee, and keep refinancing into a conventional loan, restoring my VA loan and doing that again while having another conventional loan, I would then just keep refinancing the conventional loans and getting new VA loans to refinance into more conventional loans. Would really like some advice in this. I appreciate all of you!