This is really a lot of information packed into a densely worded post.Yes, you can use loan proceeds to buy out another member, but it doesn't seem like you'll have enough to buy out and develop.

For example because New York is a generally more expenisve market, you have larger loan buy downs, bigger dollar appreciation, etc.

You have an excellent jump start- the VA loan is such an amazing tool to get the ball rolling.

I started a property management company in 2017 and am now managing almost 800 doors and 6 construction crews.If I could do it all over again, I would have spent a little more time setting up business systems prior to jumping in. 

When I worked with a property management company, we had someone buy a unit (single family) that had a STR and marketed it as a STR.

I've seen many investors get burned because they failed to understand their hard money loan terms/rates, even if they did acquire what should have been a home run deal. 

You've got to include loan pay down, appreciation, and depreciation in your return calculations.The point of cash flow is to keep you safe.

Where another issue arrises is I recently quit my job after becoming pregnant as they would not cover my maternity while overseas, my husband is employed however he works for a UK company and is British so would be unlikely to help us with the situation in the US.

If he has a $5MM loan in place, what was that used for / is it coming due/ was it short term/ etc.?

I have a robust team of mortgage lenders, title companies and RE attorneys.