You'll need to reach 20% equity across the 2 combined homes which allows you to essentially move equity from one home to the other in one transaction rather then 2 (refinance, purchase).

Is this a typical practice?

Smaller jobs typically charge more per square.  

While it has a balloon at the end, but they typically just refinance the loan for another 7 years at a new rate.

We are looking at easily getting a 15%+ return on that over the long run.One strategy we are working on is getting a loan against one of the ones we ALREADY own free and clear from a private investor and use that for half of the down payment on the new one, essentially putting us back at that 20% from our IRAs that are not already invested in real estate. 

So you essentially "recycle" your money over and over again to build up your portfolio. 

I typically subtract 3%, of the ARV.Realtor Fees: What is the commission you are willing to pay your listing agent (unless you are the listing agent) and the buyer's agent.

This project is essentially a complete gut that will include addition of roughly 700 SQF, new roof, siding, landscaping, privacy fence, hardwood flooring installation, interior re-design into an open concept floor plan, upgraded kitchen with granite counters, new cabinets, stainless steel appliances, etc.

Sounds like they have partnered with 1 provider to try and expand their offerings, but these company owned brokerages are typically run by employees who have no vested interest in winning your business.Probably time to find a good independent agent to handle the rentals, AND you'd be able to leave the home and auto with USAA.Good luck

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