My wife & I just financed a piece of property in Florida & would like to build a duplex that will be our primary residence with one rental unit. Can I use a VA construction loan to build & then refinance ...

I have done major DIY projects and believe I am capable of doing most of the work myself building a small unit or converting a garage into a unit. 

Here’s an example of a BRRRR I completed a while ago.Purchase 95,000Rehab $35,000Took a 3/1 and converted it to a 4/2.Rent 1620Appraisal 165,000  I refinanced  at 80% LTVI ended up with $5000 stuck inCash flow was $450/month or 5400 annuallyMy return was 100% in under 12 months.  100% CoC/ROI  after year one return is infinite.Don’t think that the only way to BRRRR is no money stuck in.  

Why would you want to convert from a VA loan to an investment property?

I am considering converting a family room to a bedroom and adding a bathroom to it.

In the Hamilton market, you can buy a great property for around $500K ($100K down + closing costs), completely renovate the basement, improve upstairs, and convert to a legal duplex for around $100K. 

If you convert your primary in to a rental and sell within 3 years (it was your primary 2 of last five years) it’s tax free. 

Does anyone know how much (roughly) it is to convert oil to gas heat on. 2,500 sq. ft. duplex?

Those are generally going to be older single families converted to multi family and are not metered separately. 

I now have a choice to move out and convert this triplex into a purely rental property or continue living here as a owner occupied landlord.