You can absolutely purchase off market properties and get conventional financing if it's eligible.

I knew VA loans were assumable, but I had always heard it was only by another person who was VA eligible.

So any cash you take from the exchange to pay yourself back for those expenses will be seen as taking profit by the IRS and they will be taxable.If any of your vendors are willing to wait and put those expenses on the settlement statement then they might be eligible depending on what your accountant feels. 

Chapter Seven of the VA Lender’s Handbook clearly states:“If a property is to be owned by two or more eligible Veterans, it may consist of four family units and one business unit, plus one additional unit for each Veteran participating in the ownership”.

@Michael Poloncic- if understanding your question -if the seller  want to buy a new  home and use his va loan eligibility -  he will likely need to have his  present VA loan paid off  before this can occur

Bryan, with older VAs, the pricipal has been reduced so there can easily be enough bandwidth, newer VAs I beleive go up to something like 200+K, doesn't mean they use all of that to buy the first home under a VA, so there can be more to tap into, especially at today's prices.The best way to disclose, IMO, is to say that you may not be eligible for another VA loan, I wouldn't tell them they can't unless I looked at their entitlements and loan balances.I haven't done VAs for so,me years now, the amounts of the entitlements change with the median price of homes, I have never seen them come down, but I guess they could...later

If you are inexperienced, just manage the properties as is for a few years until you learn how to manage rentals, and more importantly understand the fundamentals of investing (leverage, tax implications, opportunity cost, opex vs capital trade-offs, etc).

"The basic entitlement available to each eligible Veteran is $36,000.

HI Kia..very specific to zoning with primarily condos that are eligible that come to market.

Hoping she will be eligible for FHA loan So my question will be which will be a better option new construction in OK area or house built 1980 great condition close to hospital and a pool we can enjoy .