@Bryan Schmidt It sounds like you will need a construction loan to fund the improvements even if the seller were to offer you a second position mortgage for 20-30% of the purchase price.

You will have to consider that the VA interest rate is probably going to be higher than what the lender is currently offering. 

It is offered as a way to bypass buying RE in SDIRA? 

What suggestions/feedback would you offer someone who is considering leaving their W-2? 

Use that money to put down on a real piece of property that offers tax benefits, appreciation and less police traffic.

The program looks at location, property value, amount owing, interest rate, taxes, insurance, rents, condition, etc and several exit strategies.When we make an offer to buy, we can offer cash, subject to, wrap, seller financing, lease option, seller carryback and so on.Obviously if we wholesale the property, there is no carrying management needed, and if use a lease option to sell, the optionee is responsible for maintenance and repairs.

Is there any banks offering a HELOC on a rental property?

I made an offer on the home and it has been accepted. 

I aim to have it show the impact of K1 losses if the syndication offers it, and that tool is helpful because some of the comparisons will show a real estate syndication vs mortgage notes or debt funds that may not offer the same tax advantages/losses.I've included some of the criteria I was putting on the Excel calculation below.

There was no hesitation on our part... we own 37 doors (bought between 2018-2021) and managing our real estate is our full time job; but I want to offer you a corollary as to your "why does everyone wait" question... which is to say, "Maybe SOMETIMES they should be waiting..."