You have to live in it, but once you transfer to Indy, you can refinance it to a conventional loan if the market continues to improve and you get enough equity.  

And at what point would the ownership of the property transfer to the buyer in this situation?

Do those numbers get transferred to a schedule E or am I actually paying regular old 1099 self employment tax?? 

This one loan officer left the transfer taxes on the closing disclosure.

Is it true that the VA will usually transfer the appraisal they have to the lender, thus saving me the cost of an appraisal?

I think that transferring the property to an LLC is a very good option for asset protection, especially since I own a primary residence, have retirement savings and other savings (for the next real estate deals!).

Aaron here is an interesting article about the Cashman Center that is just north of downtown that just the Vegas council OKs transfer of Cashman Center back to city.

@Jose Duarte To clarify some of the prior posts, transfer taxes in PA are generally 2% of the cost of the property you are purchasing (1% Commonwealth of PA and 1% local jurisdiction).  

They don't have my actual account number and I can transfer money to my normal account if needed.

I bet it was a bit nerve wracking when you hit the button to send the wire transfer for closing!