If they need to be trimmed so they don't rub the roof, that should cost a lot less. 

We really don't feel comfortable even making an offer until we have an inspection and estimate reno cost. As

Displacing a tenant against their wishes when their lease is over may cost a significant amount of money, if the tenants know their rights.Prop 10 would be terrible for all parties involved, IMO...and early indications are that it will not pass.

The carpet was cleaned, fresh paint, all the appliances come with it, etc.The house really looks to be move-in ready besides maybe some very minor work that shouldn't cost a lot of cash.

If you purchase a property with a VA loan, but it doesn't cost as much as the maximum eligibility price in that area, than you can borrow again at a later time on another property up to that maximum.......another, If you move after the one year and want to apply for a new VA loan, you can refinance to a traditional loan on your first property and you free up the entire VA loan eligibility. 

Finally, be prepared for the soft costs associated with your plans (Zoning, Attorneys, Architects, PEs, etc. all cost a bunch of dough.)  

These items in the second phase won’t cost as much.

I had read somewhere that you can roll lawyer costs (title, etc) into basis cost as well as origination fee and deduct for life of the loan.

What will happen to property economics If this gets repealed?

I don't know the ease of knob & tube removal at the triplex you're pending on but not all knob and tube situations cost a ton of money.I'd call a boiler dude to see how much it'd cost for an inspection.