In a personal example I have going now...Bought for $71k, after closing costs Rehab for $15-20kRent for $1800-$2000 (duplex)Refinance with appraisal around $115-120k I can cash-out at 75% or 80% (depending on rate I want) but 75% of $115k is $86,250

After such a long, slow economic recovery the good news is that unemployment is the lowest in my lifetime, home prices have recovered and even skyrocketed depending on where you live.

Take part or all her deposit as a re-rental or lease break fee (or don't depending on how hard it was to rerent).

. $18k-$30k can be plenty to get started in real estate (depending on what market you're in and how you use it).

Depending on how much rehab there is it won’t pass a VA inspection.  

You still need to have reserves to cover those eventual costs.  5% to 8% depending on the current condition and life expectancy.Good luck.  

My guess would be that it would start a new loan, but I know that there are some loans that can convert over into a different style later on and you would want to ask your lender about that because there are probably a lot of various criteria for things like that depending on the financial institution. 

It all depends on the deal type and what you are comfortable handling at any given time. 

Depends on the cost of your area.

Another important factor to remember is the reporting will differ depending on whether you invest cash versus one of the self-directed account funds.