I usually recommend my clients use me for the first one, explain the process, help make decisions. if they want to file subsequent LLCs themselves, they are free to do so.

Once the place is rented my plan was to use rental income as well as my income to pay off the loan quickly and purchase another rental property compounding payments on each subsequent property.

I could HI Kevin,This transition that you're asking about above is extremely important to transition smoothly and plan for because it will ensure your subsequent VA use for additonal purchases.Once the current property is refinanced with a non VA loan this will free up your entitlement for additional use.The max conv limit in Ventura county Ca is 672,750 and the max loan limits for a high balance loan can go up to 95%.So what this means is theoretically you could refinance up to 672,750 loan amount with an appraisal as low as 708,158 dollars or higher before your loan is subject to jumbo/non conventional guidelines (much tougher to qualify for and has lower LTV's).The VA loan has some key features that other loans dont have:- a trade off of no monthly PMI but the upfront PMI is huge, equivalent to 2.15 - 3.30 Points (borderline hard money points).

the key here is to make sure that you and your wife are subsequent beneficiaries of her part of the trust.

I agree with much of what others have posted.Just speaking from my own personal experience, letting things slide will only lead to much bigger problems that are harder to correct.

It is this loan that provides you liquidity, and unlike a 1031 exchange, there are no rules on the timing of subsequent purchase, nor do you have to apply all the cash to the replacement property or maintain at least as much debt on it as you had on the relinquished property.

Sliding hidden doors whenever possible instead of swinging doors. 

So initially we would take the large garage that was already on the property and demolish it, then we would take the same footprint and just slide it over to use it as an addition on the cottage.

Many times, investors well then subsequently move the property into an LLC.

Groundfloor recently posted an empirical analysis of estimated ARV for all loans that subsequently repaid in 2018.The data shows that the median predicted value was 4.7% lower than the sales price, while the median appraisal value was 8.6% lower.