Thanks I have also done this and it turned out just fine.

As long as it passes VA appraisal you should be fine.

HELOC's are fine for down payment but I wouldn't recommend financing the entire purchase with a HELOC.

On here, or as I've been known to do, waxing poetic about the city in the passenger seat of many an Uber after a night out at some of our fine establishments hahaha

I would be fine with this tenant.  

Do not get caught up in the fine details, have a conversation and get that seller into a contract, then you'll have the need to get the house wholesaled.

Hey Will,As a PM in the area:-have a lawyer look over your lease-make sure EVERYTHING is in your lease (who replaces air filters, who replaces smoke detectors batteries, who cuts grass)-be thorough with background inspections-make sure tenant is aware (and is in lease) on when fines occur for late rent and how much they areThose are things that first come to mind.In can be expensive and time consuming to set it all up the first time and do it in a way that protects yourself and your investment.Let me know if I can help in any way!

I assume since it is an as is property it wont handle bank financing until a renovation occurs which is fine with me since it is forward motion.You are all the best!

I'm sure you'll do fine with that deal, but  if it were me, I wouldn't want to scale/own a large portfolio in a town that small.

That should be fine..