I'm completely a newbie and would love to meet and learn form like minded investors in the DMV area.

Depends on your credit score and debt to income ratio etc .If it us full doc and it is a primary residence sounds a little high . if it is an investment sounds pretty solid .

I've been relatively lucky so far considering I jumped in without completely knowing what I'm doing.Sincerely,Drew R.

How much will it be worth after its complete ? 

You may be able to do a fix and flip/bridge loan for the first one, complete the rehab and then do a cash out refi once it's done and rented. 

That sounds like quite a variety!

The program sounds great.

I completely agree with Michelle La's response.

I know it may sound like I'm making excuses (some times they are excuses) for not starting today.

There are three main types of residential financing out there.Agency loans: Conventional, FHA, VA and USDANonQM loans: DSCR, 1099, Bank Statement, P&L, Asset utilization etc HML/PML: Bridge, fix/flipMost investors who are looking to do value add go with a HML/PML as the lender only cares if the deal makes sense (Is there ample equity in the deal if the investor cannot complete the project, will the value be supported after the project is complete).