Is there a pre existing loan with that bank with either of you?

For context, I will be assuming his VA loan at 5.1% and he will be doing seller financing for the remaining equity and sale price. 

Quote from @Vince Scipione: Standard would be an FHA loan for your situation more than likely.

You will make more from loan pay down, yes you SHOULD have some appreciation.

I've also used traditional loans through regional banks and a few SBA loans. 

Are you using the 10% down second home occupancy loan?

We were able to get into it with a 5% down primary residence loan.

I know that interest on the acquisition loan can be included in the cost basis since it’s inventory.

Business loans typically won't let you purchase a property if you read the fine print.

One thing I continue to think about is how valuable 2-4 unit properties are becoming, and will continue to be, since Fannie/Freddie took the income restrictions from the 5% down conventional loan option for house hackers.