Those loans do come with some restrictions and fees for the life of the loan. 

My question is options for a $500,000 loan paid back over 7 years.

Mezzanine Financing: This type of subordinate financing can help fill the gap between the primary loan and the equity you're contributing.

And here’s a quick tip: use that VA loan!

The original LLC can take a loan against the house’s equity to help finance the new property.

I m overseas and bought here with a loan too.

It's ideal for the current/recent market conditions where everyone is projecting rate reductions in the near term.Your current rate is so high that you are already arguably in a worthwhile position to refi but you may have to wait on that for the first 6 months or 1 year of your loan.

I am from NYC but plan on using a FHA loan and “house hack” for the low down payment option in order to start building my portfolio.

I’m completely new to fix and flip but I have been doing some research, I’ve been looking at distressed properties in my area for example one I’m looking at now the listing price is $359k Arv is $550k the contractor fee would be $33k without materials I’ve been looking at fix and flip loans saying they would finance 90% LTC and 100% rehab .

(I'm also a real estate agent)In 1 year from now I have option to buy the property for the existing loan ($376,000 in one year) plus $45,000 directly to the seller.