1st Property - VA Loan

[Manuel Tueros]

Good morning Team,

I will be utilizing a VA Loan to purchase my first property and potentially have a deal to purchase a duplex at $330,000. I am wondering due to the insane market and shortage of multi families if it would make sense to jump on this. Using the VA loan would give me the option for zero down as well.

The current tenant in place is paying $1100 a month a bit below current rent rates. While I I live there for the first year to 18 months I will be paying the rest of the mortgage which would be around $2,000. The goal would be to move out and have tenants in place with rent in the range of 1250 to 1300 a month which would total $2600. Would this make sense to have my first property up and running with a potential of only making $400 to $500 per month of cash flow ?

Thank you