You will need to show proof of funds, though, regardless of using a contract or LOI or anything else.

If you insist on using a VA loan, it's written in VA guidelines in black/white that only folks re-upping can use their military income as qualifying income within 12 months of EAS. 

Cash, developer financing, gaining citizenship, using a margin loan from an investment account or a heloc on your primary in the US, seller financing, etc. are usually the best options as bank financing with attractive rates and terms usually isn't available like we're used to in the US.

A few years back I bought a foreclosed property with the intent of using a conventional mortgage.

That helps.Inspired by Jamall's initial post, I ended up creating a spreadsheet of most of the CapEx items I could think of, adding a column for current cost, then a column for Future Value (using a future value cost of 3% for annual inflation), a column for the # of years remaining for said item, a column for cost per year and anther for cost per month.

Glad to see a female REI using a female mortgage person.

My sellers concern is that if he keeps it in his name, he won't be able to get his new home with no down payment using a va loan.

About 6 months into the lease, he thinks he smells smoke and climbs in the attic and searches for 3 hours for "hot spots" using a thermal imaging camera (keep in mind he is the town fire marshall),  finally after not finding any hot spots in the attic he goes to the back yard and discovers the neighbor is BBQing.  

The good news is that you can still acquire this 4plex relatively cheaply with only 5% down using a conventional Fannie product.

But if it is sub-to then the deal works for a nice base hit rental without needing to buy using a HML at 10% and points etc.