Since I’m not trying to have negative cash flow, I’ll likely sell it when I leave and roll that equity into another investment property when I move to my next duty station and use a VA loan to buy another primary residence. 

Practice these answers until they roll off the tongue.

Since many buyers struggle with paying the down payment (in Denver, $1M is no longer luxury) I wonder if they'll have an extra $24K'ish to pay their buyer's agent -- I'm guessing they will want to roll it into the purchase price?

Roll Tide.

MF has taken on that roll.. but even at that its now 200 to 300k per apartment to build new. 

I'm just not devoting enough time to getting everything rolling.

One of the appraiser has been asking for rent rolls but the motel has been shut down since covid. 2.)

Plus the building itself must show receivables as a business or in rents to underwrite the NOI of the business, Rent rolls, and occupancy ratio if rentedHave you thought about starting small and simply buying some single family homes or 2-4 units and transition into commercial? 

Jay, the deposit gets the ball rolling on the construction end and ensures that the buyer will move forward with the deal as in any contract.

If you are attempting to get as many houses with inflexible loans, do the DSCRs and keep rolling.