I essentially present to them my numbers of what I can redo the property for, and they loan me 80% of the ARV basically no questions asked except for an appraisal.

You would still save more money 9 out of 10 times living with your parents but being able to leverage a low down payment loan will allow you to get a very high ROI on relatively safe investment. 

It was great to get our heads in the game, and got us to move quicker to get a house (since we were basically forced to get a pre-approved loan in order to tour houses...).

We are still doing a ton of fix and flip loans there and the numbers make sense for the banks.

Ask the builder or their legal representative for a copy of the CC&Rs (Covenants, Conditions, and Restrictions) or any supplemental documents specific to the development.Financing Considerations: If you’re financing the property, some loan types have limitations on renting out a home within the first year.

We bought it for $90k they said it was worth $90k after $30k in repairs, then a second appraisal said $120k so we could get out of the Hard Money loan by getting a personal loan and maxing out our LOC again. 

Quote from @Caleb Brown: Is the property worth the higher price to pay off the loans?

Well it is doing loans for folks who bought sight unseen and trusted contractors/turnkey providers who sell the dream but in the end do the absolute min in rehab work (even though charge for a much better job) and/or sell a buyer on a class B type neighborhood that is  reality a class D neighborhood in an already low income town.

It could be some sort of skill set for renovations, design for furnished rentals, specific market knowledge, owner occupied loan products for a house hack, etc. 

With VA loans, you’ve got a huge advantage to get started with little to no money down, and military bases are perfect for long-term or short-term rentals.