Yes, you can use a renovation loan to finance an investment property, particularly with Homestyle and Choice renovation loans, which are designed to accommodate not only owner-occupants but also investors and second-home buyers. These loan types offer the flexibility to finance a wide range of renovation projects, from basic repairs to extensive remodels, including luxury upgrades and improvements aimed at enhancing energy efficiency or disaster resilience. This makes them an attractive option for investors looking to increase the value of their properties or tailor them to specific rental markets.