The other thing I was reading was that you can get the second home if you still had “entitlement” on your Certificate of Eligibility or you can change your 1st home to a conventional loan (that is likely pretty involved) 

With the hefty down I'd aim for a lower I/O rate of 5-6%..Conventional terms would be in the high 8%'s.

@Troy Smith - if you buy a new primary home its 5% down for a conventional loan or maybe FHA works as well with 3.5% down. 

And if you end up building and then refinancing into a conventional or DSCR mortgage, I can help there as well.

An LLC is required by NC state statute to adhere to naming conventions specified in NCGS 55D-20.

I focus in all new construction where full return of capital is the value. upside for single family and multifamily new construction and developments. value add at every piece of the project. hard to do that with existing inventory.

Will there be new inventory close to your assets that might affect the rents or appreciation. 

The catch is that the veteran can't then use their VA loan again until that house is sold or refinanced (so basically you have to go conventional in the future, at least for a while).

The interest rates are too high to support this unless one of those local markets has a little extra inventory.

Choosing the best vacation rental loan option: Traditional/Conventional vs Non Conventional/NonQM.