But I was funding these houses his students were buying for 75 to 100k each Armando and his crew would do the typical tk profits of 15 to 20k each house..

Since you're currently using the property as your primary residence, the cost of improvements made before it's placed into service as a rental wouldn’t typically be immediately deductible.

@Joy McQuearyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Investors typically want a steal of a deal, so even 25% off is typically not enough for me to even stop....50% off market value starts to get interesting. 

VA loans are typically meant for individual borrowers, not businesses or entities.

Typically speaking 20% down (80% LTV) is the bare minimum that commercial lending requires.  10% down is unheard of unless you are getting a great deal and negotiate some small seller financing in second position or getting an SBA Loan for acquisition where your business will occupy over 51% of. 

@Teri Feeney Styers the slow flip method that I think he is referring to is the one coined by Scott Jelinek which is buying a livable property using private money on a short term (typical 60 month--like a car) and immediately marking it up 2-4 times and selling it on a 30 year term using a land contract.

Cutting to the meat of the situation, I came across a property that looked like a fixer upper, typical investment grade property.

technically yes but I am not sure how realistic it is unless its a very large parcel. reason I say that is typically when you give up rights they will use them (for example oil well), which requires access etc.

Typically my analogy is something like: if you're in a happy relationship, you're not going to go looking and see if the grass is greener on the other side... so for you what is it you're really looking for?