@James Bruntfield the blanket loans that most banks offer normally have a higher loan amount than what these properties would qualify for.  

Through diligent research, I successfully secured a favorable private loan and became eligible for a home loan.

Philly also has 2% transfer tax, vs 1% across the other parts of PAOther factors like the current investor loans charging at 8%.

I would only recommend using a commercial bank with a construction loan. 

I bought my first house with two loans, one for 80% and the other for 20%. 

As for the future I hope to get a Heloc or other type of loan against it in the next few years to pay off the current owner and do more repairs.

My VA loan fell through and need to find alternative funding ASAP please help.

I aim to refinance the loan under conventional investment terms to avoid the high interest rates associated with hard money loans.With an excellent credit score, securing a loan shouldn't be a challenge.

Fastest option would be to sell it to an investor, and they either pay cash for it OR if it would qualify for a DSCR loan (for rentals) it can close in 25-30 days. 

So you could pay out 120k on a 50k loan if your house stays at 600k in 5 years.Also, if you pay it off in less than 2 years, they make 20% interest on the money loaned.