You should discuss with both an attorney and an accountant if they’re willing to explore creative options. 

All options that I would absolutely explore for the right deal.The right deal:So many variables.

I'd like to explore whether buying a house and then modifying to maximize the number of bedrooms to rent out individually. 

As a new investor interested in seller financing and exploring other posts regarding Dodd-Frank, I was under the impression that balloons were not allowed.

Now we are exploring other options and the most attractive thus far are to grow our self-directed retirement fund PMLs and dive deeper crowd sourcing options that connect directly to the investor.

Looking for advice on bank financing for the development vs exploring private lending vs bringing on another equity partner.

I'd like to get a few additional deals under my belt before exploring that.

A strategy I'm exploring is buying a SFH in a great area, live in it for a year (ideally rent out rooms while in it), and then rent it out to a family after I move out.

@Dustin Pringle If the seller owns the property outright or close to you could explore seller financing or even a lease back.

@Sharon Beatty I would definitely explore refinancing into a conventional loan so you can utilize your VA loan again, but like many have said in this thread, $20k in closing costs sounds a little ridiculous!