Buying a home and renting out rooms, especially in a high-demand area like Virginia Beach/Chesapeake, can be a great strategic move.Your strategy has potential, especially given the housing costs near bases and the benefits of your VA loan.

Here are some considerations:Pros of Using a Hard Money Lender:Speed: Compared to standard lenders, hard money lenders can provide quicker approval and financing processes, which lets you take advantage of time-sensitive possibilities.Flexibility: It may be simpler to obtain financing if HMLs are more accommodating when it comes to credit history and property condition standards.Access to Funds: You may take advantage of more investment opportunities by having quicker access to the equity in your property.Experience: For first-time investors in particular, certain hard money lenders offer invaluable experience and advice that can be helpful in navigating the fix and flip process.Cons of Using a Hard Money Lender:Greater Costs: Hard money loans might have interest rates and other costs that are greater than those associated with standard financing sources, which raises the project's total cost.Term Length: HMLs normally provide loan durations that are shorter, usually lasting between six months and a few years.

Thank you for your advice!

If any of you have invaluable advice for a newbie like myself that you wish you would have known starting out, I’d appreciate your willingness to share. 

I find it rather impersonal, and basically trains new consumers to see agents as just doorpeople, and the advice/transaction is done through a national call center.

Thank you for your advice!

I like the advice Nicholas gave about looking into a live in flip.

Moment you start providing investment advice or a deal does not pan out and you were paid for that service what liability would you have?

I would speak with Jackson Law or another real estate law firm to give you advice. 

I recognize this to be a vintage thread but I searched the site all over looking for advice on wage garnishment against former tenants on SSID , which lead me here.