So back to the drawing board I go.

Rehab money however is held in escrow and released in draws, in arrears,  as you complete each milestone. 

You can ask a lawyer to draw up the paperwork after you've agreed to something in principal.

@Sthefany Lamoureux The main draw to commercial loans is that there is no personal income requirements. 

The only draw back to this is you’ll have to pay a little more in fees but in my opinion it’s worth.

In reality, all they can do is discontinue the draw period, which is 10 years, but that isn't in their best interest.

You will also need money for closing costs of various descriptions, rehab money (if this is a rehab) to finance up to the first draw which is paid in arrears,  money to service the loan until the property is stabilized or flipped (HML money is not cheap) and of course extra for cost over-runs and time over-runs and emergencies which will surely be encountered. 

The 1st use of a VA loan has a very low funding fee that is rolled into the mortgage...subsequent use is higher.Both of our investment properties were purchased with VA loans and our single family home in TN is currently at a 7% cap and has appreciated $20K since 2012.

The bank will get a new appraisal and then allow you to draw the difference between what you owe and 75% LTV. 

Where do you draw the line at what houses get money towards rehabs?