@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

For comparison, a Navy Federal FCU personal loan will be in the 15s%

If you’re paying off less than $800/mo on your loan id say sell come April selling season.

@Jon Ankenbauer you won't be able to keep the land separate from any future construction loan.

How do you think you'll get another 10% equity after 12 months of payments?

I decided to buy the property from my grandfather using a gift of equity, which allowed me to take over ownership without having to come up with the full down payment and pay for the tax lien and his closing costs.

Hi Ricky, Have you tried looking at a DSCR loan?

Another thought - are you considering an FHA loan on the next one?

There is no SST and makes it easier to house hack 3-4 unit properties and you can use that loan repeatedly while with FHA loans you can only have one at any given time.

As an active-duty (soon transitioning) Air Force myself, I know the VA loan is a powerful asset for us.