Hey Paul,This is a great question, and it’s smart of you to dig deeper before trying something like this.

It is something that gives you the leverage to make more money and have the ability to not pay the debt on it monthly either (your burn rate on it). 

Plus managing tenants is a bit more time consuming with this model. 

Hope this helps.

., so you can't get financing on a condotel most of the time.

Quote from @Virginia Frost: I'm always looking for a good opportunity but honestly my next purchase will probably be something that I don't have to do a total overhaul on.

You might also want to do the math on a convention loan instead.

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.

I'm closing on a duplex via creative financing in the next few weeks.

If you’re interested in investing in real estate, you can consider doing so with a Self-Directed IRA to defer taxes on capital gains until you actually withdraw the funds from your IRA.