Hi Luca,a rate/term bridge with rehab budget would be your best bet. there would be no PPP's since it's a bridge, you'd be able to pay off the existing lien, and you'd get your funds to do some renovations to the property.I should be able to help with this, but I'd need more information on the property and how much in rehab you are looking to do.

As far as permits and renovations and ADU additions?

Obtaining the V.A. loan is going to allow you to put more liquid cash toward renovations. 

@Loan NguyenRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

With a $35,000 renovation budget, we transformed the home, significantly enhancing its appeal and market value.

Typical rehabs I'm looking at in TB are looking like 250-300 purchase with renovations costing around 40-60k.  

But, in Detroit you need to compare renovated to other renovated homes, not just sales.

With a $25,000 renovation investment, we modernized and enhanced the home’s value.

If you can do a renovation loan with 203k or a homestyle loan to house hack a 2-4 unit multi-family, that typically has the highest potential for equity gain with the lowest cost.  

Purchase price: $307,000 Cash invested: $118,000 Purchased in January 2021, we successfully renovated this home to create a premier vacation rental property.