I found a small ranch style 3 bed 1 bath potential cash flow of $200/month. 

Would you take a little extra risk for having a FNMA type 30 year residential style loan? 

My long-term goal is buy and hold, likely with BRRRR-style rehab and refinancing where possible to steadily build a portfolio.  

If you could post about pros and cons, life style, ability to work extra, commission, hours...

As for more spreadsheet-style things: low property taxes, landlord friendly, land value is low so I get to disproportionately depreciate more of the purchase price, etc.

He knows the property type, the area, you, your style, and can give you far more applicable counsel than anyone here.Secondarily, I would plug all of your assumptions into the BP calculator and post the results.

If you go with a vinyl Click plank you can come in less than $2/ft on flooring.home depot or floorstoyourhome.comI have been adding restaurant style sprayer faucets off Amazon for about $60 and under cabinet lighting $40 to make a statement.

In order to do a construction loan with a VA loan you would need to find a lender with a Fannie/Freddie style "One Time Close" construction loan....that would allow you to modify it into a VA loan. 

One is owned by a housing society and they are currently building a large apartment style building.

I will focus on small multifamily properties and single family homes in the short term and possibly trade them in Monopoly boardgame style for a larger apartment complex in the future.