First investment dilemma, suggestions please.

[Krista Patrick]

I'll try to be as detailed with this questions as possible while still keeping it under 30 pages. ;) 

My husband and I finally had our plan to purchase our first investment property this summer in Northwest Arkansas. (Relocating from Montana.) We were going to house hack a multi-family using a VA loan. However, I just started calling around and it sounds like my husband needs to have 12 months left on his military contract OR have documentation from a new employer in the same field as his prior MOS (job in the military) if it is less than 12 months. Unfortunately we were planning on doing all of this in July but his current contract is up in mid-April 2017 and we haven't made any decisions whether he will re-enlist, extend, or separate.

So, my question is this: What would you do? 

We could drastically move up our timeline but we would have to close on something prior to April 19, 2016. Which means I would need to fly out to Arkansas, asap to find something. Also, I'll be moving there with my kids, withOUT my husband for awhile. We weren't prepared to leave him that early. So, this option would require us to pay two mortgages for a period of time (which, obviously, we prefer not to do). 

We could wait it out until late summer/fall when he applies for jobs to see if he gets something in his current field or extends in the military to POSSIBLY get a mortgage but I don't really want to put my eggs all in this basket. 

If we DON'T pull the trigger now, and he DOES get out of the service, we are looking at a possibility of our 6 month plan turning into a multi-year plan by the time he has 2 years at a new job to qualify for a mortgage.

Obviously we can't tell the future. Maybe we somehow find enough money to buy a house in cash and the point is mute. But for now, we need a loan and a place to live and a time frame to do it. And I would MUCH rather buy than rent.

Suggestions? To jump on it and buy now, even though it means possibly paying two mortgages and moving a few months early? Or wait and chance not being eligible for a loan anymore? 

[Daniel Lehman]

OK, I can answer this for you...  In REALITY all your husband has to do is INTEND to reenlist, as long as he is able to if he wanted to.  Hypothetically, IF your husband DID intend to reenlist, to solve this issue you would just have to write a letter to the lender that said "I intend to reenlist" and you would also have to get a letter from his command that said he was eligible to reenlist.  In that case you wouldn't need a full year on the contract. 

Later, if intentions were to change, that is none of anyone's business, really.   Stuff happens that changes minds.  

People intend to reenlist and don't all the time.  That's about as specific as I can be on that topic.