I recently wrote an article on that subject you might find helpful: https://www.biggerpockets.com/renewsblog/5-ways-to-get-your-refinances-approved/

If you want an FHA or conventional owner-occupier loan, you'll need more than $10k to cover the minimal 3.5-5% deposit for your next $350k primary.While in theory, 2x Equity Lines Of Credit could be approved, remember that Lenders only give out a percentage of the homes' values, so, you may not have $74k of borrowable equity!

My question is that if I get approval from the local town and the property variances are changed would it be allowed to convert said property into a 5 or even a 6 flex without any issues arising from the VA loan lender?

I would also say network with some lenders, or loan brokers to understand what needs to come to the table for your ideal situation to get the pre-approval and funding. 

They are approved for financing as well.”The inspection is on June 12th.

I know Nashville has been a hot bed for Air Bnb controversy recently, but I think as long as it's your primary residence it can still work and be legal?  

He asked about the first one, as it was confusing with originally recorded errors in the legal description (two half duplexes where the legal descriptions had been swapped at the original sale). 

I am interested in adding a bedroom in the attic to get more rental income and I am having a hard time finding requirements for it to all be legal.  

What are the legalities of living in a townhome and renting out the other rooms?

@Darren GregoryYour friend refers to a very old (and long dead) rule, which is why it's best not to ask friends for legal, tax or medical advice :)There are only two ways to control capital gain taxes on selling your own home, and they can be combined.