.: I am new to this and trying to gather as much  information as possible.We are mid fifties, living in a tourist area on the coast of GA.

I've seen VA loans close with backend DTI ratios in the 60s and low 70s.VA loans can be used for multifamily purchases with 0% down as long as the veteran will live in one of the units.

You Might Not Live for FreeMany first-time house hackers expect that their rental income will fully cover their mortgage, but that’s not always the case.

Agree $800 seems overrpriced for a room, especially since it seems like he is acting as a live in nanny, the lawyer seems out of touch. 

Another option would be a co-living arrangement utilizing a company like PadSplit.

If you're talking about building an interior wall to create a bedroom, this could work so long as you aren't significantly reducing living space compared to the competitive rentals. 3 bedrooms with a tiny living area could cause problems.

I have not lived in the areas, have a friend that lives in Laconia so likely will be looking for a 2-4 unit that we will live in and work on fix and flips to build capital for the next purchase.Appreciate the support everyone! 

He installed doors on the living room to turn it into an extra bedroom.

So you are saying I can have two homes under a VA loan and rent out my first primary and live in my 2nd primary home?

I'm in the greater Boston area and I wasn't able to fully live for free but I was spending about $700 on my unit.