I'm currently exploring opportunities in the Honolulu market and looking to use my VA renovation loan to purchase a 3-4 bedroom home, renovate it, and rent out the extra rooms as part of a co-living/house-hacking strategy.

I purchased a property in the 77003 zip code which is 1.5 miles from downtown.

How have you handled it when you've purchased a popular existing STR?  

@Olecia Williams Though it's still possible to purchase a second/vacation home with only 10% down, it may not be your best option. 

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

Purchase price: $12,000 Sale price: $18,000 Double wide on 2 lots by the lakes that needed completely gutted and rehabbed.

I am exploring the possibility of purchasing an off market plot of land, building a modular home, and then selling it.

What the IRS is concerned with is when you are doing a 1031 and want to purchase a property from a related party. 

This Abbeywood Dr property was an attractive opportunity due to its below-market purchase price and strong demand in the Decatur area.

I am looking for ideas on locating an equity partner who can provide collateral for a commercial loan to purchase a self storage facility.