Have you looked into commercial DSCR or Fix and Flip loans?

I have a good chunk of cash available, but I want to start by taking advantage of a VA loan (0% down). 

We are going to convert our current primary into a rental, and it will likely cash-flow well enough (including capex, maintenance, vacancy etc.) to also cover the loan repayment on a $60K home equity loan amortized over 25 years.  

For smaller loans like that, regional banks and credit unions are often the best fit.

Here is a great example:Investor A does a $25k private loan at 8% interest only for 4 years.

Companies like Quicken Loans or Rocket Mortgage have been known for their diverse lending options, and they might work around your requirements.

My understanding about this product is that it is intended for acquiring and renovating, and then I would refinance into a more conventional loan to finance long term as I do hold properties.

Can a parent-in-law can lend to a SDIRA (non recourse loan secured by a property)?   

I will probably need to refinance to a higher rate mortgage or get another loan to finish.

With my equity I could easily get  the down payment for a rental, as well as I qualify for the VA loan, and would like to take advantage of that.I guess my question is should I focus on just one strategy, or should I just do whatever the market throws my way, whether its a rental or a flip.