Still really need a local contractor but I’ll continue the search.Wasn’t aware about that BP rule @Carolyn Morales but that seems interesting compared to any networking forum I have seen but I will note that so thanks for the alert!!!

I have a house that has caught on fire and could use some moral support and some steps to take starting now. 

It’s a pretty easy VA-to-VA refinance program that you can use to spread your loan back out and increase cash flow down the road after you’ve built up that equity, so you can start with low/no down payment to keep your cash handy and ready to make another deal with, and after a few years, if it makes sense, refinance the VA loan to drop your payments and boost your cash flow.

I would not recommend opening unnecessary lines of credit just for a quick boost to your credit. 

Moral of this deal - Always ask someone if they have anything else they want to sell :)What will I do with the 500,000?

And if you want that income to get a little boost right out of the box buying a distressed property that needs you to add value will quite often get you a higher initial cash flow than a turn key, especially in today's environment where most people think their properties are made of gold. 

Is it moral / ethical?

We didn't skimp on quality, opting for high-end finishes that significantly boosted the property's value and appeal.

I am not here to get into a debate about f it is morally right, but that is how it is.

Definitely start with the links @Dmitriy Fomichenko recommended, if you're truly interested in wholesaling learn to:1) Estimate rehab costs or link up with somebody that knows them, J Scott's books which can be found here are great starting points2) Learn to ACCURATELY determine ARV, I see far to many wholesalers boosting ARV by selectively choosing only comparable that support their targeted ARVs and passing over ones that may be better comparable to the property but do not support their inflated ARVsIf you have any questions feel free to reach out, best of luck!