My ideal is cash-flow, so I plan to use the VA loan, but I am open to standard mortgage or private money if that's what it takes to find something that meets the criteria quickly.

Here is the info:Tenanted duplex with 2 2br/1ba units, both tenanted and renting for $600 each.Financing is via private loan at 4% interest only payments and final balloon payment at end of term (5 or 10 years, tbd)Asking price : 57,900 ***note: following numbers are assuming the seller's asking price, which I would NOT offer***Est'd ARV: 60,000Est'd rehab cost: 15,240Closing/Legal cost : 1,500Down Payment : 17,000Total cost of project : 70,400Total borrowed amount : 53,400Total Gross income : 15,880Total Expenses  : 9,054Net Operating Income : 5,478Annual Debt Service : 2,136Cash Flow : 3,342Even with the over-market asking price, this property is already cash flowing.

@Michael Stange I only got 2,000 of my own money to put in, if i get a private money lender to put the remaining 9,225 , how would i pay the private money lender , with the cashflow or when i refinance?

Been looking at private investors, foreclosed homes, sherrif sales and so forth.

You can still do asset-based financing (examples include hard money and private loans) if you can't secure traditional financing.

You can either find private money from family and friends, or you can go after other private money or hard money.

Is this a private money loan?

They stay in control of their loans and you win loyal investors/private lenders.

I am hoping to find a bank that does portfolio lending and offers better terms through its private banking wing.Any recommendations would be well received.I found one lender that through its private banking wing offered 100% LTV interest only cashout-refinance at 4.125%, but I must pledge securities in the amount equal to cash out proceeds beyond 80% LTV. 

One User Emily G said she was a private lender to these guys and they defaulted.