It's not a real common concept here in DFW area, but I love it.Buyers have no downtime, no rent rate risk, lower vacancy risk, potentially instant cash flow day 1. 

Thank you, Miguel, I will probably end up waiting and take the risk. 

'Flipping is considered erratic and high risk but if your research tells you most win, then it's a no brainer for you.

Doing a Fix and Flip in a flood zone is totally fine, but there is obviously added risk on the exit.

I feel that I had too much risk with the money I borrowed against my personal property and credit and I had too much risk on the money I loaned.

And I can tell you u there will be some that read 20% and all that does to them is scream risk. 

If it isn’t repaid, it can be treated as a taxable distribution, which adds to the risk.

You appear to be an investor who only cares about their spreadsheet's best possible outcome without any regard for risk.

@Chris Kay beleive you can do DSR loans without a job as they qualify the property, not the borrower.You'd still need 20-25% down though.That's where you have a decision:- Pay down the mortgage, setting yourself up for a future refinance to free up your VA Entitlement.OR- Save up for your next acquisition.Only YOU can make that decision as you have to be comfortable with the increasing debt-load risk and the additional time to manage everything.

Not sure I'd recommend jumping straight into a flip, but if you're buying in cash you'll have less risk.