Quote from @Victor Tofilski: @Joe VilleneuveThe other unit was a unique circumstance the tenant only needed a place for 6 months before he moves again so I gave him a different price to account for future vacancy.

if so maybe it doesn't matter but most construction loans would have had to be refinanced twice by now Robert -Cape Coral is definitely in a unique position when it comes to new builds.

The unique part is the additional basement garage.

You'll likely find it easy to find people who will tell you what you want to hear, but you really need hard facts not speculation.But for some speculation, if you're talking about the Nantahala River or Little Tennessee, sure I think you might be able to do $22K/yr, but not much more, unless perhaps the places are uniquely styled. 

It's going to be a unique build

A nice potential boost for downtown Louisville. 

The model you should go with will ultimately depend on what the group is optimizing for (cashflow, appreciation, tax optimizations, diversification, and maybe even a little bit of social value doing something fun, potentially lucrative, and unique w friends).  

Key Steps Before ProceedingContact the Loan Servicer: They will guide you through the assumption process and confirm whether an entity can participate.Consult an Attorney: If you’re considering title transfers or joint ventures, an attorney familiar with VA loans can help you navigate potential risks.Understand Due-On-Sale Clauses: Ensure any post-assumption changes comply with the loan terms to avoid triggering repayment demands.Final ThoughtsVA loans are a unique and valuable financing tool, but the program’s focus on personal borrowers makes entity-based assumptions unlikely.

@Eric Jones,No, I'm NOT saying "that it works due to something unique and intrinsic of the HELOC itself".

It would be $1.1m, and according to AirDNA it would run -$40k/yr as an STR, and while local rent rates are high it would still run about -$2500k/m.It is such a cool and unique property I hate to let it go and would love to find a creative use for it that could at least carry itself (approx $6k/m+).