There are a ton of complexities with properly repairing a fire damaged house....they sell really cheap for a reason.

VA Cash Out refi's must demonstrate a Net Tangible Benefit to the veteran, strictly defined by VA, to do one of the following: eliminate PMI, reduce the rate, reduce the term, reduce the payment, increase residual income, renovate or repair your primary residence, convert from ARM to fixed rate, or stay below 90% LTV. 

However if you didn’t calculate in at least some percentage of the rent for vacancy, repairs, and CapEx then eventually things will happen, such as a vacancy or a repair being needed and you will be out of pocket a much larger amount of money than just your $400.

Other than the repairs needed of course

As you look to scale, just make sure to hold/build reserves for when repairs come up and take your time screening tenants as you will find a vacant unit is much less stressful than dealing with a bad tenant.

Purchase price: $90,000 Cash invested: $55,000 Triplex in SE Cleveland (D+ neighborhood)Purchased for 90 and saw 105 for valuation. 25% down plus closing costs and unit repairs has led to about 50-60k going into the deal.

The first closed shop 2 weeks into my mentorship and stole my money and removed all of their content from online.

The asking price is under $125k and like mentioned earlier, the renovations would be 50% so there are major repairs (not move-in ready). 

@Harsaha LenkaI looked at the OM and it’s missing vacancy and collection loss and repairs and maintenance.  

But it also means you have virtually zero bargaining power as the seller can reuse any and all repairs and just keep your 6 months of rent as a bonus.