Will VA loans work for investment properties?

If you buy a home to live in with VA, and actually do live in it, there is no problem renting it later. However, you cannot buy a property with a VA loan intending to rent it (purchasing an investment property). Two cautions: VA regs make buying a condo with that type financing a challenge - depending on the condo development. Also, remember that once you use your VA eligibility to purchase a property until you sell or refinance that property you may not be able to obtain another VA loan so you would need a downpayment - and if you own a rental property it can be a little more difficult to qualify for the next mortgage.

VA loans (purchases) are for owner occupants only. There isn't a restriction that states you may never rent it - but you must intend to occupy the property.