The lenders that offer the 203k renovation loan are telling me that DPA cannot be used with it and this is in Ohio.

Quote from @Sri Reddy: We are a team who are venturing in to constructing a multifamily unit from groundup.We don't have any prior experience in construction and are looking for financing loan options.

Loan Amortization- 15/20/25. 

Even though you have a VA loan, you still WANT good credit.  

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

Bridge loan.

I am also a huge fan of real estate and for the past 50 years there's been a way to combine both.By leveraging a Self-Directed IRA, real estate investors enjoy both the traditional advantages of property ownership and the additional tax benefits of retirement accounts, creating a powerful wealth-building strategy.

The Note/Mortgage for each loan states the dollar amount invested & the % of the total loan by name, for each investor. 

I also want to combine it to one $150k  30 year fixed loan instead of having two separate  $100k and $50k loans what options do I have can anyone help.I don't want to use my own money.

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?