Best financing option to pursue

[Kenneth Hynes]

Question for the group

I purchased current residence last year. After going through a hassle through USAA and the VA appraiser (The VA 6 weeks late with the appraisal) , finally sold some stock and purchased the two unit for cash . I have completed renovating top unit, and in the process of renting it out. I am looking to refinance to take advantage of low rates and have cash on hand to invest in the next 3 to 6 months for my next investment property as well as complete the rehab of the lower unit .

Question or feedback on which loan option to pursue .. Most conventional options require %75 - LTV when I refinance, so able to pull out ~ $150K, I I have never used VA loan , and thinking of refinancing into a VA loan that would allow me to pull out ~ %90 LTV so more money to invest now.

I plan on living in bottom unit for 2 more years, then rent that out and buy another 2-4 unit , and with the current VA loan limits ($561K-981K) I don't think I will have an issue staying below my cap. Also my DTI is right about 28% , and looking to pull in anpther $900 from the rental , so debt service should not be an issue

SO Use VA option when I re-finance (and get an extra 30-45K pulled out) or keep whole VA entitlement until next purchase ?