Another thought - When purchasing HVACs, roofs, tree removal, siding, etc. you can very easily pay "retail" (just look for the biggest ad campaigns online) or you can save 30-50% by being your own GC and finding or going to the crews directly.

You appear to have found a property that doesn’t require property tax payments, title, hazard, or fire insurance, and a closing attorney or title and escrow that works for free on both the purchase and sale side.

I recommend your purchase agreement include an opportunity to review any lease agreement, payment history, and application screening for current occupants.

\we have an oprotunity there to purchase multi unitr there and want to advice with someone that well familier with this area

I am going to go a bit off topic here...I have been thinking about purchasing a rowing machine for a while now and this thread, and thinking about how much my physical activity has gone down in the last year (since I left the Air Force), is making me think about it even more.

The seasoning requirements, LTVs, and drivers of the difference in purchase/appraisal values will be effected by the loan product.

Maybe I’m reading this wrong but after reading several articles it’s my understanding that normally when a civilian assumes a VA mortgage the “VA entitlement” will remain with the seller meaning purchasing power in the future will be less since it’s still tied into the current loan and the 1 year occupancy is foregone since the seller has lived in it over a year. 

I hope to purchase my first investment property by the end of the year, initially in Northwest Indiana, likely Hobart.

There is a decent chance that my next purchase is a commercial MF (5+ units) in an expensive and appreciating market (I have a couple I am considering) in a class B or above area that is likely to have a small amount of projected cash flow.

@Jose LealBRRRR property investment involves purchase price, rehab, holding, and refinancing costs.