Partnering with VA-Loan qualifier

[Samantha Sayers]

Hi All,

I am a real estate agent with experience in property management, lease-ups, the airbnb industry, and the foreclosure market. I'm based in Seattle, and am gearing up to invest in my first property in 2017.
I don't have a huge amount of cash to bring to the table, but offer handy work and real estate knowledge.

My brother is interested in partnering. He is in the military, on active duty in Minnesota- gets re-stationed every 3 to 4 years.

My brother would be a great financial partner. Good credit, steady income, etc. He rents right now, has not used a VA loan at all.

My question is thus:

The VA-loan option seems exciting to me. If my brother were to take on a loan by himself to purchase a multifamily, we could refinance the property later on to the both of us, or to an LLC that we create together. The only problem is, would the property have to be near to wherever he is currently stationed to qualify as "permanent residence"? He gets re-stationed every couple of years, so I'm not sure how the residence gets proven. We would ideally like a property that is closer to me, in Seattle, so I can manage it, flip it, etc.

That being said, I am not opposed to going elsewhere, although my RE license is in WA state.

Thoughts? Is the VA loan in this scenario not the best option? Just because my brother is in the military does not mean we HAVE to use his VA loan, we could always pursue another route.