The VA loan is primarily for owner-occupy there are some exceptions like having your spouse live in the property while your deployed.

A buddy just did 242 units while deployed. 

Prior to the bust in 2006-7 I had attended a few REIA meetings and was ready to start until 2007 when I was deployed to Iraq.

I find myself with spare US cash that I'd like to deploy in the US with a trusted partner or partners for longer term buy, rehab, rent and re-finance deals.

That left plenty of meat on the bone for us to do some updates and sell it right before I deployed.  2.

I'm working on getting my license while deployed overseas (currently active duty military but will be leaving the service soon).

Also, if you have a quick cash real estate business, you will have more capital to deploy to do more buy-and-holds.And lastly, even if the worst case scenario happens, you can always start over.

@Will Grabert I would likely deploy via a mix of routes that included buy and hold, lending, and syndication.  

Its not optimal, because you're never going to recognize massive appreciation, but I'm not brave enough to deploy funds to buy an 8 unit building in [insert city here] when I literally know nothing about that city's neighborhoods.With all of that said, Luzerne County has some really solid pockets where there is a good renter base and enough middle class jobs to keep housing prices growing very, VERY slowly.

Clarksville will have vacancy issues due to deployments and as you note, the housing allotments will cap the rents that can be obtained.