Sounds like someone who is so bad with money that they can't be counted on to pay rent once/month like a normal tenant.I would pass on this person.

I also read on bigger pockets that my wife and live in the other multi-family home and that counts as "owner occupied"TL;DR Can we use a VA loan twice at one time, to purchase 2 4-unit properties, and can she occupy one property and i occupy the other that counts as owner occupied?

You might want to double check your sheet to make sure it was counted as an expense.Total income is $56,760 + $1,200 = $57,960.Annual projected NOI = $5,581 or $465/mo.You are putting $68,000 down and let's assume another 3% in closing costs of $10,200 for a total cash in of $78,200.That makes it a 7.14% Cash on Cash Return.If you want a 12% COC you will only want to put $46,508 in.  

When I did my first flip I measured up things like rooms, counted doors and sizes, measured windows, etc...

DTI= $55K/$108K = about 50%From reading, it seems to me that part of the reason banks take 25% off of the gross income is to cover for PITI, so it would seem redundant to count it again as in example 1 above.

I don't like having that much cash held up in the duplex and could try to refinance it to get it back out once the rehab was done but haven't done that before so I didn't want to count on having that happen.  

Unless he produces something better, your lease counts.

I'd count one and ask for pet deposit for the other two.

Of all the vehicles I have towed I can count on one hand the number of vehicles I have towed twice.

However, he only counted the expenses as PITI and the PM.