Sale price will be a little below market value with a Home Style loan (4% down), rehabbing ($80K-$100K) mom's home into a place my family and I can live in (better schools, bigger yard, and other benefits) comfortably with a growing family.We plan to renovate the attic of our current home and make some cosmetic repairs ($60,000 HELOC) that take it from a 3 berooom 1+ half bath to a 6 bedroom 1+half bath with a separate 1 bedroom apartment that has a livingroom and kitchen (apartment is already renovated).We then plan to rent the Air BnB for 2 years and re-finance for equity and leverage to buy more rentals.

Was hoping to use my VA benefits to buy a home between 1500-2000 square feet but with 3 bedrooms or less in hopes of adding another bedroom to force appreciation.

I don't really understand the benefit of using a HELOC if you're going to make monthly payments over time and end up paying a ton of interest on the equity in your home, but I'm admittedly not a very finance/business savvy person and maybe that is a better gig than paying closing costs to pull equity out on a refi as opposed to using the HELOC. 

If the property was the previous owner's homestead and it's not your homestead, you still get the benefit the remainder of the year. 

Added benefit to doing a buy & hold - you may be able to get into a neighborhood earlier that competing investors who are looking to flip quickly.Best of luck as you enter the market!!

That has different legal connotations that one side or the other might not benefit from and it puts both sides at risk for the other's actions.

What are the benefits?

Sometimes when we give the seller the benefit of the doubt for their offer, it makes them trust you and they see you care for them.

_________________________________________________________________________________________________If all you do is this exercise, you will likely see some benefits, as your vision will stick in the back of your mind and you’ll unconsciously work towards it.

Keep the tenants you like, hold on to the place and reap the benefits.