Nathan I think this is true if your just talking about rental props for landlording.. the last 2 to 3 years have been the best years of my career.. building new builds and Loaning our funds.

If you need the lawyer's name let me know.So now I'm sitting on owning an empty lot and still making loan payments.

I'm a new real estate investor just looking to get more knowledge on how FHA loans work.

Your loan amount would then be 155k - at what 6% or so?

It recently dawned on me the idea of a non military affiliated individual assuming a VA loan, would this individual be able to then also gain the benefit of using an IRRRL since they have now acquired a VA loan through assumption?

One of the big benefits of buying the whole thing on a fixed rate loan is that one of your major expenses is fixed for a long period of time, including the cost of the land. 

Focus on one task at a time, like getting pre-approved for a loan or analyzing a few deals in your target area.

Most hard money loans will not cover rehab costs.

If the lender is licensed in the state you're buying in, then they can do the loan.

Owner occupied loans have allowed us to purchase properties in markets with heavy appreciation, and potential for huge rent increases.