REI and effects on VA Home Loans

[Derek S.]

Hello BPers!

I am looking into obtaining a standard mortgage for purchasing a home as an investment rental property. I have a little money to put down for my first rental (likely less than 20%).

I am a veteran and have the VA loan benefit. However, I would like to do this without a VA loan.

Then later, sometime in mid/late 2018, I am looking to use my VA home loan benefit to purchase a primary home as a residence for my family.

Is there any rule against doing this? Would having a prior mortgage for a cash-flowing rental property affect my ability, and interest rate of my VA loan benefit? Would it change any of the other benefits like zero-down financing, no mortgage insurance and the more flexible requirements that are part of a VA loan?

I don't want the rental property to lower my credit score so much that it would significantly change my rate for my VA loan. Also, debt-to-income likely couldn't be considered since the rental property wouldn't be cash-flowing for more than two years and the income would not be counted in my credit score as "income".Any help/advice or insight to this would help. Thanks!