Does anyone have any recommendations on how to proceed beyond this.Below are some details of the loan agreement.

There is a lot to discuss on this topic.

To maximize cash flow, find suitable properties, analyze numbers, and focus on student-friendly amenities.

You also want to look at your liquid reserves because as you buy more rentals more PITI reserves are required and a Heloc can "Never" be used as an asset or for a PITI reserve.If you evver have any questions feel free to reach out I enjoy talking REI and I deal with them every day as  Banker.  

This was an on market deal.

I plan to put two duplexes on the property but with this high appraisal is there a smarter thing to do to pull that money out of it or just use it for better collateral for the construction loan most banks will lend on the transfer price within a seasoning period. we face the same issues for land entitlement and development.

Inventory has held steady around 5-6 months for some time now, with roughly 9% more active listings on the market in the metro now compared to Oct. 2023.

@Rick Albert is right on and gives good advice.I'm actually wholesaling a property this week, but this just happens because I am in the game doing flips, developments, and rentals. i would never try to make a business out of it. 

Asking for POF (lender pre-approval, bank statement, line of credit etc) for a property like you have is perfectly normal. 

You can own more than one property with a VA loan, it depends on what your total allotment is.