So I'm strongly considering adding a handful of these to my buy & hold portfolio.I understand that there's no "risk-free" method to acquiring these properties subto, but have any of you had success over the long-term acquiring properties with VA loans attached?

Perhaps I'm an old out of touch birdie, but if I made $292,000 a MONTH doing land contracts, I would focus all of my time and energy on that and adding to it.

As soon as interest rates or your personal situation are favorable you can then refinance at any time and eliminate the hard money lender.

That added a 12% expense bump- totally changed the vacancy dynamics.

Also consider adding higher end finishes in the bathroom(s).

Eliminate debt, establish a budget, and save.

So I'm guessing it might depend on your state laws and personal situation. and make sure you know of any sticky items that would eliminate the protection you get from the LLC.

If you added in the cash you should have to protect against contingencies, the actual return goes down (or the risk sykrockets, your choice)- If the $300K properties cashflow, definitely a better bet. 

Then they won't need an upfront payment for work they haven't provided yet.Also, get a signed contract, copy of the drivers license, contractor's license and be added to their liability insurance.

Although this is a long term investment and not in the main stream, it has added a certain level of comfort knowing the above potential investment risks are to a degree reduced.