How much is insurance of these properties?

You have to adjust your expectations to match current reality, which includes higher mortgage rates, higher prices, more expensive taxes and insurance, more competition, etc.

@Kenneth Jenkins you forgot to mention owners that expect a PMC to use contractors off Craigslist that are unlicensed, NOT insured and rarely have acceptable experience/skill - but, they quote the "best" price.These same owners will sue a PMC if using these types of contractors results in a tenant lawsuit.

Your insurer could recommend one or you can check Google (and, of course, the reviews).

Low down payment (3.5%) is attractive, but comes with mortgage insurance and might not offer the best rates.

Payment to the bank is $4,311 (includes escrow/insurance), total monthly rent $5,600, which leaves me roughly $1,300 monthly after expenses.

Compare this to your total monthly costs, including mortgage, insurance, taxes, vacancy and maintenance.

Private mortgage insurance i believe is not charged on va loans.  

Nat,Tenant has been unemployed since March and has been receiving unemployment insurance.

I was an electrician for over 20 years with my last electrical job being shop foreman for a custom electrical control panel shop and UL 508 specialist.