Would the federal tax liability be $140k at year 5 for the sale, with long term capital gains (ignoring any Net Investment Income Tax)?

Federal programs will require you to use GC/licensed folks for a lot of the work and they will get reimbursed by the institution that your loan is with; many GCs don't want to wait on the float time of requesting funds and getting them.Depending on the program and rehab/condition of the home, you may not be required to live in the home (think black mold remediation...bank isn't going to put you in a compromised position) however they may have min/max of when you need to move in.

I believe that the Federal Reserve is going to cut rates by 25-50 bps at it's September meeting (no emergency cut), but that 30-year fixed rate mortgage rates will rise to upper 6s low 7s around the same time, and Commercial borrowing rates, including for multifamily, will increase as well. 

This maximum rate is determined by adding 2.50 percentage points to the yield rate on long-term government bonds as published by the Federal Reserve Board or the United States Treasury, or both.

Have also done work in DC and Maryland and would say Virginia has significant benefits over DC and Maryland because it is more business friendly and jurisdictions are willing to work with not against developers on projects I mentioned as well as you mentioned With the federal government and government contractors not going away - area is great for investment.

Federal law makes banks put a 3 day hold on anything over $5k.

then you take the state test and the federal test to get your NMLS registration..

NMLS registration is a bonus because you can look them up on the federal registery to make sure they are real..

I saw an offer like this one recently with a Navy Federal bank statement that "had $700K" in the bank and it seemed legit.. but the LLC wasn't active with the state and they had assignment of contract language all over it.

Federal Trade Commission (FTC): - https://reportfraud.ftc.gov/2.