DTI hasn't been a major obstacle to us, so this might be tougher for some.

Something like 17,000 abandoned buildings there.https://www.politico.com/news/...I think you can find opportunity in every market and in most situations, but not easy to do as a local, even tougher if you are not local or here.

Ahh I see, that's a little tougher.

Annual rent ( Rent paid by current tenant and rent paid by myself while living in vacant unit) - Estimated Operating expenses (prop taxes, insurance, utilities not paid by tenants, R&M, etc) - Annual debt service on 1st mortgage loan - interest for the private party loan = what’s left over for investorThat’s the easy part.The exit value will be much tougher to estimate and will be dependent on where you think property prices will be at the time you plan on moving out.

Low range homes often take more work because they tend to be in worse condition and require more inspection visits and tougher negotiations.The difference is she'll earn $1,350 vs $15,000. 

and with sellers that are not up to speed on what the market conditions really are.Lastly there is nothing tougher in real estate than to wholesale. 

Then use my VA loan to go get a nicer 4 bed for my family to live in.Pros option 1: Only 3.5% down, doesn't tie up another VA loan, if  flip is done right I could refinance into a conventional loan.Cons option 1: Could be tougher to cash flow with only 3.5% down plus the PMI associated, forces family to live through a flip.Option 2: Buy home with VA loan, live in for 4 years, move out and hold as a rental.Pros option 2: Easiest solution, least amount of headaches, family doesn't have to live through a flipCons option 2: Doesn't provide the most amount of potential growth, ties up another VA loan.Option 3: Buy rental with conventional loan, buy personal home with VA loan.Pros option 3: Easier solution, doesn't force family to live through a flip, gets rental and nice family home at same time.Cons option 3: Won't have the money to do major renovation on rental could cost more in long run, ties up a lot of money in rental, slow growth without doing renovations.

@Eric James You Can get a conventional loan for an investment house (not with an llc though) it just carries a 25% down payment....even though now it’s a little tougher now as Freddie wants a higher percentage of owner occupied loans. 

@Mike Bianchi It's a tougher environment to put money to work right now.

Building can be a bit tougher there just because the price point is lower than many areas of the country and land is already a pretty unique strategy.