You minimize your expenses by paying the mortgage with rent from the one side you're renting out.

Our biggest problem is moisture seepage from the original hand dug basement walls but given the effect on your joists your moisture problems seem excessive.I have no idea of electrical $$ as its tied in with the common area billing but I'm sure its minimal.

We hope to find a property that doesn't need much work since it is our first one, and we really want to learn the ropes and take our time with it to minimize the number of mistakes we make.

There are a lot of moving parts in either scenario but in a syndication, the syndicators handle almost all of them and usually have experience with the managers that they use and have systems in place to minimize losses during turnover and reno, etc.

Taxes on the lot of minimal so I don’t mind sitting on it but since it’s an empty lot prices won’t go up not even close to if there was a house on the lot.

@Christi Nicolet find a brokerage that supports you working both states for one fee and no outside fees to minimize your expenses and keep more commission for your business2.

There was enough of a sense of community where the tenants actually did treat the rentals like their own homes You'd make (theoretically) twice the cash flow as you'd be renting both the lot and the home with minimal work (or as much as a well maintained multi fam).

Your best bet might be lowering to $650-675 and trying for a 2-year lease, that way you minimize vacancy next year.And absolutely you should take control of your marketing. 

If you can use it with minimal needed Repairs in order for the House to pass and Qualify for VA loan standards, how would those Repairs be Paid ...........

With the rates where they are at, you would be able to finance your projects pretty cheap and tie up minimal amounts of capital as continue to refi and repeat.