The podcast referenced stated they buy 10% below market and make sure they are no more than 70% LTV when they go in. Under

The reason we don't care to deal with wholesalers is due to the very high probability that you will never close the sale, after you put it in under contract, and keep it off the market for a while.

is it possible to put the properties separately in under each of your names...as well as separate va loans?

I use a lender that often overestimates all the charges on the GFE, so that when the final real numbers come in...they come in under what I have budgeted for. some lenders GFE's will be spot on, others might underestimate some costs.

Will be a 12-13 in under 24 months. 

I doubt the Seller would be inundated with Buyers even at her owed amount of $125k.

Anytime you can shift an expense from you to the tenant and it becomes pure profit in under 2 years it's a no brainer!

The reason CA investors go out of state is because they can only invest in under $100,000 properties. 

i would be curious to hear if the owners are receptive or if they are getting inundated with inquiries.

As @William Hochstedler said, I've seen 2/2 units leased to two individual undergrads completely, totally, 100% destroyed in under a full fall/spring semester lease.