Any tips?

It is correct that there is no limit, but some of the aggregators and securitizers who purchase these loans post-close have exposure limits, such as $10 million in unpaid principal balance.

It will be a can of worms for sure and they may go as far as requiring a full tear out and fresh submittal.

Happy to post more details on the financials but for starters we owe 1060000 on a 2.25% VA loan. 

This is not a great return, but not terrible.As others noted, there are other risks, like having the property insured at full replacement or purchase price, or if the option is 100% seller financing with no money down or very little, versus 20% traditional down payment, this can start to move it into a better investment.

Maybe he will see this and post it..

So that’s the full context just fyi.   

@Yaroslav Shtogun assuming this is something you can tackle yourself and with your network doing the full deal would be an awesome project for you!

@Chris Kersey In another post you said you know good handyman.

Robin Carriger is the organizer and they usually post notifications here on BP.I've posted other lists here several times and can do so again if you need it and can't find in the search function.