Next investment after first home via VA loan

[Jeff Darger]

I'm about to close on my first home purchase in the San Antonio area using my VA loan, but have found an additional investment property that is already cash flowing that I would like to look into as well. Fortunately the home I'm buying is essentially move in ready with a 2nd unit that will pay my mortgage, so I'm fairly comfortable looking for something else quickly.

What I’m unsure of, is with basically a 100% loan to value ratio what types of strategies are out there to dive right back in and get a second property? One kicker is this place has been registered as a former meth lab over 15 years ago prior to the current owners who have fixed the place up, so traditional financing is already a struggle for most. It does have a house and 2 additional units that are all rented out on 5 acres so potential for more cash flow.

Unique situation I know, but any ideas would be great.

Thanks!