My question is that if I get approval from the local town and the property variances are changed would it be allowed to convert said property into a 5 or even a 6 flex without any issues arising from the VA loan lender?

It's not that expensive and eliminates possible disputes that could arise from equivocal discussions.

HiIf one is buying an income property with a mortgage, what are your thoughts on buying properties in a rising rates environment?

If a problem arises the lender can have nightmare thoughts about trying to contact the investor that is thousands of miles away from the property.

I probably lost over 100k in the 12yrs of owning said properties during the housing depression, i just dont want the same thing to happen again to me, so i have been trying to be picky with my selection of next houses, i have come close on a few, but due to not able to pay 100% cash on those deals i was beaten by another investor, but honestly i feel the market is just to high right now...I bought a house local to me for my mother 2 years ago that needed about 5k in repairs, for 100k even.. in 2 years the market is now saying this house is worth 133k, just seems like to high of a rise... 

SonThere will always be just enough folks who claim, or perhaps, even demonstrate, success arising from the "coaching" or "courseware" offered by the self-proclaimed guru to provide some air of legitimacy.  

I made some spreadsheet and ran a few numbers using financial calc... but the more I look at it the more questions arise.

Take pictures or video when new problems arise.

There's a reason realtor purchase contracts are 10 pages, and they usually address the common issues that can arise. 

However, the risk is there, especially in a rising interest rate environment.Hope that helps.Good Luck,Jim