The biggest issue with Stessa is that it sounded like they had very low transfer maximums(making it difficult to pay people) but it looks like they've improved a little bit on that.

There's a decent chance that if you have good credit and improve your DTI over the next year, you can put a Heloc on the property while it's still your primary to unlock some of that equity if needed.

While I’m open to both turn-key and fixer-upper properties, my preference leans slightly toward value-add opportunities where I can improve the property and increase equity or cash flow.That said, I’m also happy to consider turn-key options that provide immediate cash flow if they fit within my investment strategy.

I appreciate the insight that you and John offered regarding the lack of value in the business itself and strictly the land + improvements.

Not all homes are great long term rentals! 

@Seth Williams I work in the group home industry.

Purchase price: $8,000 Cash invested: $20,000 In 2013, I decided to put much of what I had learned from books into action by purchasing a two-bedroom home—not as a traditional investment property, but as a home for my mother.

Pick one that is improving, homes being renovated and flipped, vacant storefronts being turned into cool coffee shops etc.Good luck.

One said the 2nd mortgage has to be assumable and the other said it did not.VA issued Circular #26­24­17 back in August to try and clear up the issue:Assumability: If the secondary borrowing is not assumable, the holder of the VA guaranteed loan should counsel the assumer that this may restrict their ability to sell the property to another creditworthy assumer through an assumption in the future.The lender currently servicing the loan still can decide whether or not they'll allow the 2nd.You could do seller financing for the gap and then refinance just that amount with a Home Equity Loan or Line of Credit at some point down the road. 

The tax benefits refer to the tax deductions from mortgage interest and property tax.The returns mainly rely on appreciation, and the cash flow only improves in the last few years, also depending on securing the 5% refinance rate.I've learned a lot from this forum, but as I start to operate on my own, I'm still not completely confident.