I currently do not have any student loans, car payments or other debts besides my mortgage. 

I am currently  in the process of purchasing my next primary home in GA using a VA loan and my own savings as a down payment. 

I smell a refi in your pipeline a year or so from now, remember this isn't a home loan, so "two years of tax returns showing a profit" is NOT a hard/fast rule at all to get the best terms.

The balance on the Loan is 40k.

I've already used up my conventional loans, so we are using commercial loans now.

I would buy a property that needs a little bit of work, and then use a hard-money loan to pay for the property and the repairs.

The loan was originally $25k.

Original Purchase Price$305,000Down Payment$28,793Closing Costs$11,527Rehab Costs$80,500Mortgage Costs$30,056Utilities$1,275Taxes$2,729Insurance$1,251STR Furnishing$10,142Total Costs$125,953LTR Income$7,000Net STR Income$21,234Total Income$28,234Total Capital Invested$109,246Appraised Value$540,000Loan LTV%70%Loan Amount$378,000Mortgage Balance$325,148Closing Costs$9,805Cash out$43,047Net Capital Invested$66,199Starting Equity$133,207Value Created: $67,008Hours Worked: 595Hourly Wage: $113I was only able to refi at 70% LTV, so I left $66k in the deal.

A lot of people chase cash flow, but the reality is that even if you just break even while renting it, you'll still be making money through appreciation, depreciation, and loan paydown.

The current property has a VA loan with a pretty great interest rate (2.375%).