I was just thinking today there was all this excitement about VA loan assumptions there for a while when interest rates started going up. 

Neighborhood revitalization projects, major corporate investments, and an influx of small businesses were all happening at a pace that made it clear the city is on an upward trajectory.From an investor’s perspective, Detroit offers a unique combination of affordability and opportunity.

If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.  

we have to have pre sales my bank will only give me a certain amount of spec loans but unlimited amount of pre sales. its the only way to keep velocity when you have a larger project like us ( 90 homes) We have been blessed no questions about it.. we made some critical decisions when we started that now look like genius moves :)

We've utilized the VA loan for our current home, and this strategy has worked well so far.

Your VA loan will be crucial to your real estate investing growth, especially since it affords you the potential opportunity to own more than one property, depending on your overall allotment.For active military personnel, that conundrum of where to invest and where you will end up is always part of the issue that sometimes causes analysis paralysis so it's great you have one in VA Beach already.

Conventional loan, 20% down non-owner occupied.

A combination of extremely tough long term tenant protections and the economics of short term renting being a lot more attractive. 

Income: Verified monthly income must be at least three times the rent (minimum $4,200 combined).

If you can find that, I would recommend a rehab loan to help accommodate the repair costs and do a modified 'BRRRR', or just sell it when you are done.Is this your first investment?