What people need to realize is that these sites are all startups and they're going to wax and wane and figure things out over time.  

The real smart ones will drop by in a month to show you how to wax it.

The first thing I thought of when I read this...candles.

I have a candle on my desk that says "Life begins at the end of your comfort zone

I mean it's none of my bee wax, but if you want it as an investment, there might be an emotional attachment that could cloud your decision making.OK, I'll assume that your motives are purely business.

If it is a franchise, it is a whole different ball of wax. 

I can see I'll be up burning the candle low reading all this.

. - each unit rents for $695-$750 a month- almost always 100% occupancy - currently ALL bills are paid - built in 1930s but its actually been updated and in good shape- had a fire from a candle 1.5 years ago and that's the reason for the recent high repair costs etc. - 2014 net income was $25k - 2015 net income was $34k- 2016 net income projections are $40k- owns stove and fridge in all units- does all repairs and maintenance himself

While real estate has its costs, including loan interest, over the long run it is an investment (research if you are in a waxing or waning heated market in which case you may want to move more quickly wait).The VA loan will have restrictions that many loans do no carry.  

If the unit is a rental and you don't want to spend the money to refinish the floors, sometimes you can get away with a buff and coat, depending on if any other contaminants have been sitting on the finish, such as floors being previously waxed or furniture polish that has remained on the floor when the previous owners were cleaning their furniture.