This property is unique in that we can rent out the whole property or we can rent out the property by individual rooms because each room has its own bathroom and it runs as a bed and breakfast.

Quote from @Alan Asriants: There has been a growing trend recently of individuals looking to house hack single-family homes.

I screen individual dogs (of any breed) with an in-person evaluation before accepting their owners as my tenants.  

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?

In California, a tenant is considered an “at will” tenant if ALL of the following conditions are met: (a) the individual occupies a property, or room within the property, with the owner, (b) there is no agreement for the occupancy to be for a specified period of time; AND (c) the individual occupying the property is not paying, and never has paid, any rent.

Welcome to BP - I'm sure you'll learn a lot here and connect with other individuals who have the same interests!

How often is an individual successfully sued for an amount that exceeds their insurance coverage?

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Check their social media profiles to gauge whether they are reliable individuals.