So far the two banks I've called (BOA, Navy Federal) won't let me take out a HELOC on my investment property.

They can do both transactions simultaneously and have your entitlement restored post-closing as they are the ones doing the refi too.Stay away from the lenders posing as VA authorities like USAA, Navy Fed, Veterans United, etc...they are great at banking and insurance, but frankly they suck at mortgages. 

I recommend JR French with 360 contractor service based in Rock Hill SC.

I'm currently deployed with the US Navy to Africa.

I have a 6 month Navy school before I get to my next ship though, so will be actually arriving my next duty station in the fall of 2021.I definitely want to buy a house or condo where ever I get stationed next, but also want to buy an investment property near my family in Ft.

Active duty navy here.I joined this forum years ago but was more of a lurker and not quite active. 

I am currently on Active duty with the Navy and closing on my first property next month.

The recent foundation inspection report provided by the seller shows that several preventative measures are needed to protect the foundation from further damage; including new and added gutters, french drains, and a curb poured alongside the occupied side of the property. 

Pardon my French but isn't that a little ****ed?

I was struggling with how to get back into investing while stationed at sea in the Navy when I read that book.