In addition, some states have different regulations tooI'm sure that someone that specializes in Insurance can give more insight into what is and isnt necessary or best for our properties.

Since you're in Texas, I'll use a town like:  Each town will be different based on the population living outside of town. 

But each REIT has different strategies and goals.

The proud property owner/Investor would make a little bit of a difference as they go alone.

Hey @Kyle Nikolich - You'll get many different answers for new construction costs. 

For this reason, it would be prudent to not overleverage yourself in this type of environment in order to wait and see where rates do end up falling, as there is consensus in the market we are moving into a falling rate environment, the exact timing of when rates will be falling is unknown and different scenario analysis should be added to underwriting refinance periods to be sure the project is sustainable if inflation resurges and a refinance is delayed.

Since your property has high resale potential, some lenders may be willing to work with you.Cash-Out Refinance – If you’re open to refinancing, you could take out a new mortgage for a portion of the home’s value (say, 60-70% of the $500K), and use the cash difference for renovations.Personal Loan – If you have good credit, you might qualify for a personal loan for part of the rehab costs, though interest rates are typically higher than secured loans.Partner with an Investor – Given the potential profit, you may be able to find a real estate investor or contractor willing to finance the rehab in exchange for a share of the profits upon sale.Your best option depends on your financial standing, timeline, and risk tolerance.

My advice for you is different than everyone else. 2 years ago I was in your shoes.

In fact there are quite a few sellers who will opt to go with a different buyer solely because they don't want to deal with the perceived headaches of a VA buyer underwriting process.

Putting 10%+ down with a different lender and getting lower points and interest is 100% better.