Looking for a Quad to Househack in Phoenix

[Jeremy Fenceroy]

For my next project I am selling my house in Arlington, TX and am looking for a quadriplex!

I'm looking for something less than $900k in which I can live in one unit for at least a year to qualify for VA financing/post-rehab refinancing. And I'm looking for something that meets the 1% rule (1 month of total rental income *100 > the purchase price + rehab), or if the property is in good shape I'll consider as low as .8% (rental income * 80).

I am leaning towards Phoenix because I have family in the area and already have some connections there as a result of another multi-family I already own in Phoenix. Although I would be happy with a turnkey place, based on the 1% rule qualifier I expect this property will probably be a rehab. I'm open to doing 12-month leases or short-term rentals as I have experience in both areas.

I'll soon have $200,000 cash to put down, but would love any tips anyone has on how to get:

- a loan pre-approval to make cash offers, or

- a bridge loan and

- tips on how to refinance from a bridge loan with a VA loan after rehab