Indeed, Nick has fallen victim to the biggest misconception in real estate: A mortgage is not a loan against the house; it’s a loan against your income.

They're two of the biggest.

Doing the actual work (on schedule/budget) shouldn't be a problem, since I'm a contractor - and I have a lot of resources in that area.My biggest concern is the re-sale.

If anything goes wrong, YOU'RE A VICTIM.Live in a hurricane prone area without insurance and a hurricane destroys your house - YOU'RE A VICTIM.Too lazy to work and have no place to live - YOU'RE A VICTIM.A homeowner borrows 125% of their home value in the biggest real estate bubble in history with a gimmick loan and then can't repay the loan when the rate resets - ANOTHER VICTIM!

Fannie Mae and Freddie Mac are the biggest, and combined account for roughly 90% of all single family mortgages in the US. 

I think the biggest hurdle would be all of the inspection requirements of the VA.

Especially since casinos aren't even really popular now, and the fact that a vast majority of homes are owned by investors. 

sure they cheat blatantly at the casino but the marine environment is stunning.complacency always costs money,

Haha, Seth I just got back from snow skiing and the casino and leave tomorrow for two weeks at the beach.Pay someone to do the work and go on vacation with the TIME you saved.

Kind of makes you miss the "good ole days" days when your biggest concern was whether the each states dealer laws applied to you.