From what I'm gathering on this thread, though, it seems like there wouldn't be anything to "preapprove" if the intent is to use a portfolio loan; you'd have to have a performing asset in place in order to demonstrate an ability for the investor or LLC holding the property to pay back the loan, and you'd run the risk of leaving all your capital tied up in the property if you were ultimately unable to get approved for that portfolio loan when the time came. 

Regardless, the project will be financed with the intention of paying it off once I secure my next deal. 

You should operate by the "intent" of the rule, which is to identify and mitigate risk.

My intent in posting here was to get advice/perspectives from other people to bring to the table when I talk to my agent. 

But intention was to hang it and use it when I buy my next home and potentially sell my current one.

I work in Arlington and do not have intentions of living elsewhere.

I bought a lot 18 years ago with the intention of building a home and moving there because my best friends lived next door.

VA loans are owner occupied loans so not moving in within 60 days really makes it an investor loan which is not the intent of the VA loan.Now if you move in and 1 month later you get orders, well, that is fine. 

FHA & VA allow for a "Change in circumstance" for example you are moving, changing jobs requiring new location, new school, enlisted military, divorce, other life circumstance outside of your control.As far a penalty due to no intention as using from the start of the application.

Anyway, we are thinking about renting the house that we live in right now for a year and moving into another house that we will house-hack, probably upgrade it with an intention of renting it in the future, and probably come back to the house that we live in right now.