If you have a COE then reach out to someone who does VA Loans like Veterans United and get a pre-approval letter.

@ Justin Ellis:Sold it four years ago but we had a property in Park City, Utah (ski resort) which we converted to LTR from STR because ST renters were the WORST.  

If you plan on paying off the entire balance early though, make sure your loan doesn't have a pre-payment penalty.

They're in the right spot if they like mountain biking and skiing.

I would even consider hard money if it’s a pre-existing relationship and you can have $$ in your hands in a day or two.

I purchased a pre-construction condo for $500k, put a $50k deposit, and it's worth about $580k now.

Transfer Tax and Broker Fees) = - 132,250.00Interest to Hard Money Lender ($1,068,070.25 @ 10% APR, Funds were provided as needed, Up to C of O was Issued, Total 16 Months) = - $166,778.11Total Construction Costs = - $982,680.00Total Profit on Deal = + $228,291.89 What made you interested in investing in this type of deal?

Transfer Tax and Broker Fees) = - 132,250.00Interest to Hard Money Lender ($1,068,070.25 @ 10% APR, Funds were provided as needed, Up to C of O was Issued, Total 16 Months) = - $166,778.11Total Construction Costs = - $982,680.00Total Profit on Deal = + $228,291.89 What made you interested in investing in this type of deal?

We are a big state and the other side of the Rockies is lovely with less congestion and better weather... except for the ski towns, generally prices are better here too and there is still a need for rental housing.

Here are the numbers:# of Units: 35Purchase price: $1.15MDown Payment required: 20%Renovation Funds: $350KTotal loan amount: $1.2MLoan terms: 5.25 APR, 5 yr term, 25 year amortizationAverage Current Rent: $523 per monthForecasted rent after renovations: $726 per monthAs-is Cash on Cash return: 18.09%As-is IRR (assuming refi after year 2): 48.62%We are very excited to jump in and get renovations going!