That's what I was thinking.

I think you would be wise to sell and use the VA loan for your new home. 

While I am no expert, I would be happy to help if you think that I can be a resource.

I think @Patrick Roberts hit the nail on its head.

Long term its not a great cash flow property but with some renovations and addition of a parking slab I think long term appreciation is the big goal here.

Do you think risk & reward always needs to be symmetrical? 

I think a great strategy would be to find someone who would like to house hack with you, and maybe even someone with a bit of experience local to the area that you trust and know very well to go in on the deal with you.  

Instead of losing 55k they will probably only end up losing $25,000 - $30,000Long term its not a great cash flow property but with some renovations and addition of a parking slab I think long term appreciation is the big goal here.

I'm thinking about buying a property in NC.

I think the first place to start is evaluating quality deals.