With a proven track record maybe the investor will loosen up on terms or do multiple investments concurrently with you.Until you have enough investable capital accumulated, it will be a challenge controlling the terms of any investor or lender.If the deal you have in your sights is phenomenal (like it could appraise for way over your purchase price), you may have luck finding a HML to fund acquisition + rehab but the terms will likely be ridiculous.

Code Section 5.062(a)(2) states: "An option to purchase real property that includes or is combined or executed concurrently with a residential lease agreement, together with the lease, is considered an executory contract for conveyance of real property."

I didn't know 12 years ago that a state tax sale can run concurrent with a foreclosure sale.

Concurrent closings, multiple escrows, multiple purchase contracts, same lender on them all. 

As long as you disclose what you're doing you can do both loans concurrently. 

Buy them all at once, 25% down on each, concurrent closings -- meaning all 4 mortgages close and fund on the exact same day, using rental income from all of them to qualify.

Concurrent or simultaneous 1031 Exchange transactions can be structured without a "professional" Qualified Intermediary if they are properly documented.

Concurrent funding and closing. 

I think Airbnb can manage this but not if you start doing vrbo etc concurrently.

Now CONCURRENTLY for paying ALL cash and paying off the VA loan the couple will give the investor an OPTION to buy a 50% interest in the CA house they are BUYING with their restored VA entitlement.