Military Veteran financing options

[Joshua Lyon]

Hello fellow BP members, I currently own a single family home in Colorado Springs that's been a great rental the last couple of years. I bought it using the VA loan and put very little down on it. I lived there long enough to satisfy the VA requirements and moved out about two years ago. It's valued around 265k and I owe 229k. I'm getting $1550/month with the mortgage at $1250, 30 year fixed and 3.5% interest. I'm using property managers that take 10% so my cash flow is about $175. Currently I live in a small townhouse in Orlando that my parent in laws own outright. It's a temporary situation due to family reasons but my wife and I want to move out into a bigger house in a year or so. I want to take advantage of not having a mortgage at our primary residence and get into more investment properties. I'd like to flip a house in Orlando giving us more cash to continue to flip/buy and hold but also give us a better down payment on a primary residence. We have about 10k available to invest with a credit score above 800. Does anyone have any experience with using the Military Choice loan from Navy Federal? I have the VA loan tied up in my first house. I don't have enough down payment for 20-25% for a Conventional mortgage. Any other ideas to make an efficient investment with my current situation? Thank you!