That said, a VA loan charges you a guarantee fee that is financed into the loan.

I would like to do some type of loan or HELOC product to renovate the common areas and a few units. 

I'm considering this, however want to do my due diligence from both any outstanding lien side as well as at least a walk-through/evaluation of value of property as well.

Are there any resources you'd suggest looking into to understand loan assumption, especially VA loan assumption?

@George Blower  Are you sure on the part that you can't take another 401k loan until 12 months after the first loan is repaid?  

Debt Protection: If you have mortgages or private loans, a life insurance policy can protect your family or business partners by covering outstanding debts in the event of an unexpected passing.4.

The 203k is a renovation loan. 

I'm now aware of any "lifetime" limits for FHA loans, but you're required to live in the property for at least 1 year after the loan starts.

My initial reaction is that given today's higher interest rates I don't think $100k income will support an 800k loan because the loan payment on an 800k loan (30 Year Am and 7% interest)  is about $5,000 - $5,500 and your income is about $8,300 per month.

Hey @Tori Rhodes - As a builder myself here in Chicago that is a question I hear often.Before looking into your loan options, I'd look long and hard at the cost of land and construction in your Grand Rapids area.