Hi All,I have just purchased another rental property, this time it is located in DC Ranch Scottsdale, 2 min walk from the DC Ranch Marketplace, it is 2 bed 2 bath renovated 1300 sqt unit.

If you don't many claims will not be covered during the renovation period.

Inspection revealed tons of major issues in the crawl space (flooding etc) and renovations will be major.

I have seen some streets where nothing had been renovated, one investor took the chance, and then proved value for the area.

We want to go for another real-estate investment (we are doing buy and hold..buy low, renovate and make them short term rentals on airbnb in Ocean City, Maryland).

ContactNotesHere is an example of compare between 2 lenders: Lender 1 Lender 2 What % of the ARV is leant out The lesser of Up to 70% of ARV OR 90% of Cost (purchase price + renovation budget) Up to 75% of ARV for rentals, 70% for flips What is the interest rate?

With larger, fancier places, I think you are reliant on larger groups or people with a lot of money.

Do the bedrooms per unit need to increase due to the 'larger family' clause?

The downside, of course, is that the VA loan has a few more restrictions which can limit properties you can purchase which require more renovation for a lower price.Aside from the agent and lawyer, I would advise having a solid home inspector, CPA, contractors (general, painter, plumbing, electric etc.) on your team. 

Or at least cutting it down till the prinicpal portion of the payment is substantially larger than the interest portion.This is a topic often discussed on BP - search for "Velocity banking" or "pay early" to see more opinions.