He told me that the house is pretty far gone and needs about $110K rehab on a $90k purchase(I spoke with the seller after our walk through and offered her $90K, she verbally accepted and is going to come up to the house location this weekend.) 

I’m willing to accept higher interest rates on a line of credit as the overall $$ amount is significantly lower than refinancing an entire property at the above mentioned 6-7%, not to mention restarting the amortization schedule all over again.

My timeline for turning over vacancies is strictly four weeks, which is the maximum acceptable period between a tenant moving out and the arrival of a suitable new tenant.

With the VA Vendee financing program VRMCO is just hired to do the marketing and field the offers but is ultimately the VA that decides on accepting or turning down the offer?

Reach out to a few, see who you like and see if they are accepting new clients.

@Ben Azubuike it's technically too late to add anything else if you've already signed a purchase contract.You can try to negotiate with the seller for review of:LeaseRent LedgerTenant approval criteriaAt closing you also want acceptable copies of tenant's: DL, SSN, paystub, bank statement, phone & email.

There won't be a test or screening to determine your qualifications.

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

From purely a lending perspective, the projections from AirDNA and Rabbu are the only commonly accepted sources for underwriting a short term rental purchase or refinance DSCR loan.

The roofing company is at fault for not installing these and your PM should not have accepted their work without them.