Feasibility of cash flow with an Owner-occupied Duplex on VA loan

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Hello BP,

I recently posted a plan that I have for a simultaneous transition out of military service to acquire a quadraplex on a VA loan and live in one and rent the other three units out to tenants. I will spare all of the intricate details of the endeavour and get to the point. During my demographic and market analysis, I discovered that the market was almost frozen with sales of income properties. This is due to the location, in college station texas, where Texas A&M university, along with blinn college is located around. The actual appreciation and GRM/CAP rates of all of the investment properties in the area are very fair, and so are the conditions of the properties.

Problem.

Nobody is selling. College station is projecting a larger student volume, and I have a colleague who works for BP and has gave me some inside information about a possible relocation of a regional corporate headquarters to the Houston area. These properties in college station are not booming, but are flooded with low vacancy and good rental income. Nobody wants to sell their income properties.

My original goal was to get a quad, and I certainly wont be purchasing until spring/summer of 2015. However, there are onlny a couple quads on the market at any given time, and typically are the less desirable ones. There are numerous very nice duplexs that are collecting median rents.

I ask my question in a general sense, because I know that a further financial analysis of a property will be the deciding factor on this, but has anyone ever used an FHA or VA loan and owner occupied a duplex and experienced a steady positive cashflow? I dont have much time at the moment, but I will post some numbers on here soon so we can analyze them. I will give as much details as possible. I am mainly curious if anyone is doing this or has had success with it. Thank you in advance.

Link to my plan and original post if you are interested.
http://www.biggerpockets.com/forums/55/topics/113945-new-veteran-investing-in-college-station-tx