Rates on a DSCR 1st are pretty low compared to a conventional loan 

Conventional Financing How did you add value to the deal?

This is DSCR or conventional??

You'll have similar issues with a conventional mortgage except for the prepayment penalty. 

Conventional Financing How did you add value to the deal?

Using your VA benefit is a great way to get started in real estate.When buying properties, lenders wanted to ensure the property we were leaving had a lease agreement or under a property management contract.Qualifying for a VA loan has slightly different criteria than a conventional loan.I wish you all the best in your investing journey.

I am not approved to buy outright with a conventional loan, but by going HM first and then refinancing seems like a solid workaround. 

Conventional loans only, no DSCR. 

You'll almost always get the best rates and longest terms with conventional financing.

I'd imagine there isn't enough time to get a conventional loan approved for the property before the auction date?