If there are concerns or issues with the property condition or capacity as a vacation rental figure it out within the contingency period and accept, compromise or cancel.

According to HUD Fair Market Rental Rates for 2024, the market rent for each unit in the 34608 zip code is $1,700 per month.While the units are in good condition, consider updating the kitchen, bathrooms, and fixtures and adding a fresh coat of paint for a fix-and-flip strategy.

The reason for this is because there is a possibility for interest rates to expand and/or market conditions to soften.

The property cash flowed well and covered our expenses in 2021 and 2022 with short-term rentals and about 80-85% business use, but it did not rent as well in 2023 (oversaturated rental market, change in travel restrictions, weather etc...) and dropped to about 65% business use and a negative cash flow of about $15K.

By putting 10% down I probably will be less than breaking even every month ((like an extra $800-900 per month at very low/conservative rent prices)  with the building fully tenanted (as is condition not counting value add with renovations). 

If one location goes bad, flooded with poor drainage, fire outbreak, riots, weather related destruction etc, the other property is protected. 

Present an Offer to Lease with your terms and conditions for the applicant to become a tenant (sign lease, pay move-in monies) by a date certain prior to 8/1. 

However, this is pretty much doing a BRRRR now which I've never done, don't have the time and is capital intensive (plus, I'm out of town) which doesn't seem too appealing.While I could just weather out the cashflow and bank on the appreciation over time, I feel my return on equity is poor, and that equity can be put elsewhere to be more productive.

Yet, the current market conditions in Australia (especially Perth) are proving to be incredibly competitive.

Since a VA inspector would need to verify the condition and value of a home before the money is lent, does this mean there is no way to buy a foreclosure with VA loan financing?