That's the loan product I've been calling around asking about.

@David PereIf Alex gives me a hard time I’m just going to throw beer and hair product at him until he calms down haha.

You and I have different views on this and I don't know nearly enough macro economics to have a productive discussion. 

If an owner is looking for just one roommate, and it's a nice place, rent can be $1,000/mo.Re: loan types: there are conventional loan products that allow for a lot less than 20% down.

Call and ask local realtors, act like a buyer and actually go see product in that submarket. 

I sit and research loan products for investing all day for fix and flips in New Jersey. 600 is often the minimum credit score I see for fix and flips.

There's a study that showed that new vacancies are being listed for less than they were when they were rented, meaning some markets are seeing a decline in rents.

Are there any cashout refi products available to her and vets like us?

In most cases those things are 80% modem, 20% router because there’s only one part of that product that makes your ISP money. 

If it is a higher-priced property that is vacant and needs some repairs or a major rehab on a lower-priced property  I will purchase a Builders Risk which also covers uninstalled materials and products on site.We went for 4 years with zero problems in 46201, 46205, 46208, and  46218 averaging 80 to 100 vacant units per year but at the end of 2019 and 2020, we have had to take more precautions.