You should speak with a CPA and a tax attorney to be safe.Regarding your thoughts about 1/3 equal splits - sounds good until you check out the cost of getting a DSR rehab loan or borrowing hard money.

We currently own 13 rental properties and have paid off all loans/mortgages including our primary residence. 

Investors may like the income on the spreadsheet, but the appraiser for a traditional loan won't care.

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

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?

This low inventory will continue to pressure up rents.The sales market is (finally) showing a seasonal slowdown.Sales - Months of SupplyThere are about 1.8 months of supply for our target property profile.

Bankers will be asking for proof of this filing as you get loans in the future.https://fincen.gov/boi  

They used that period of unemployment to skip paying student loans and then try to get some kind of program/hardship deferral or something aka "gaming the system".

Also looking to take a loan out on this paid off unit.

Single woman, mid 30s, small dog, 50k in student loans, decent savings, 735 credit 2.