I'm wondering if anyone has experience with VA loans and the 1 year residency requirement before you can use the home as a rental. 

Hello - I'm looking at buying a single family home on the county auction site. 

I'm looking into investing out of state since my island home is so expensive.  

Today these houses are valued at $700K- $1MM (original home structures).I'm looking to do something similar, but the East Coast has obviously appreciated significantly since.

In many instances a bankruptcy is the best outcome for everyone as it keeps the borrower in their home while reorganizing their debts. 

We have done our houses and probably over 30 other homes for friends and friends of friends. 

Once they agreed here’s how it was broken down:The home was fairly furnished with little to no work.  

@Drew Sygit I already possess the necessary knowledge and am in the process of due diligence to purchase a home.

They can do HELOCs down to 640 for primary homes and 680 for investment properties, combined loan to value (CLTV) are up to 85% for cash out for primary homes and up to 70% for investment properties (max CLTV depends on credit score).HELOC maximum line amounts up to $400,000 for primary homes and $250,000 for investment properties (maximum loan to value (LTV) varies based on credit score). 

Average home buyers3.