Texas is very landlord-friendly and also does not have income taxes. 

Option 1 - NOI = Rent - (maintenance, vacancy, management, property tax, insurance)or Option 2NOI = Rent - (property tax, insurance)in both cases i assume DSCR = monthly payment/NOI

Medford also just voted to increase property taxes which is another reason to act. 

When wholesaling vacant residential land (city lots or larger residential parcel in rural areas) how long is the due diligence period?

This has become challenging due to an increased interest in the historic district in Dubuque due to revitalization plans that include 18 million dollar investment into the historic downtown area. 

If it's not in our hands by the due date it's late and late fees begin.

And even here, you still need to be "active" to research who you are lending your $$ to, and due diligence on the deal itself prior to investing your money.

We built and sold 8 spec homes from 2020 - 2022 before taking a break and haven't been able to get back into it since due to market conditions in our area.

It will also allow you to pull some cash out if you have the equity and for tax purposes.You can have two VA loans at the same time but having two means that the second home may not qualify for 100%. 

You have to adjust your expectations to match current reality, which includes higher mortgage rates, higher prices, more expensive taxes and insurance, more competition, etc.