VA loan to build equity then refinance and repeat! VERR lol

[Joel Mitchell]

I have a question concern my current situation. I have access to a VA loan with no fees. I have been trying to figure out how to make a deal in my area for a while. I have to purchase in my area as I have to live there due to the VA requirements. The rents in my area do not support a true zero money down deal. No offer will be accepted as the purchase prices will be half or most likely less below asking,in a appreciating market. I have consulted my accountants and they have stated that a good deal to me may not be a good deal for everyone else. I have a job that I need to maintain until I get this side hustle to not a side hustle. What they are speaking of is the tax advantages for me. Does it make since to make a break even cash flow to increase equity and take the tax advantages? I have been working the math to refinances and make the 12% and $100 per door at that time. Getting started and using the tools that I have. Thank you for any advise.

[Max T.]

I could see this working if you tried it this way:

-buy a very distressed property that somehow still qualifies as "livable"

-perform a live-in-flip style operation, minus the flip at the end

-do a cash out refi based on the higher value after renovation

You'll have to make sure your cost of renovations are much lower than the equity built. Look for the worst homes on the best blocks.