If a sponsor resists this basic transparency measure, consider it a serious warning sign.  

You can't show the home to potential buyers.

Typically, you can only do one rollover per 12-month period (again, IRS Publication 969 has the details).In the end, having the option to invest your HSA funds is usually a better bet than letting them sit in a basic savings account.

I know I'm getting the tax benefits of depreciation, the minimal positive cashflow, and the appreciation on the property, but It's pretty much a long term play of slowly raising rents annually to increase cashflow, which will eventually get basically reset when my loan goes P+I in 10 years.

There are people who buy a longer term (12 months or more ) OPTION giving them a RIGHT to purchase a subject property, at a certain price, within a certain amount of time, and attempt to either sell the option for a higher price or close on a simultaneous purchase and sale to an end buyer paying a higher price.  

Lenders and Financing• Can anyone recommend lenders in Destin who are familiar with VA loans and can work well with first-time buyers?

It’s easy to want to jump into big deals right away, but starting with one or two smaller properties lets you learn the basics of real estate investing without getting overwhelmed.

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

I've heard great things about Loebsack & Brownlee, that's basically all they do so they know the ins and outs of the law, and they're good at it.

It will familiarize you with the basic terminology and benefits.