Let's say you borrow $100,000 to pay off your $50,000 IRA loan, $25,000 on credit cards, and keep $25,000 for finishing renovations.

@Luke Hamlin you can buy a second home with 10% down with a Conventional loan.

For comparison, a Navy Federal FCU personal loan will be in the 15s%

I think you would be wise to sell and use the VA loan for your new home. 

We decided I’d utilize an FHA loan to buy my first property.

The SST doesn't apply for legal 2-flats so if you want to use FHA it's probably better to target those that maybe also have a non-conforming basement or attic unit.This is why the 5% down conventional loan is a game changer for house hackers.

I recommend that you find a trusted or recommended Mortgage Loan Originator (MLO), who can give you options for property-based loans (mostly investment loans) and they don't use your taxes but the P&L of the property.

So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).

Plus the mortgage company probably calls the loan, and if you can't pay it off then you can lose the property.

If you can save up 20% down in a low-cost market like Cleveland, you could use a DSCR loan to secure financing while you still don't have any stable income.