Want some opinions on my first large deal that I am thinking of doing (I have a couple duplexes that have turned out great but this will be my first apartment complex and I want second opinions and thoughts).

Also....if you already own a property literally within 100 miles of where you are trying to get the FHA loan then the FHA will not let you get that loan.Other then that it is VERY similar to the VA Loan.If you're getting orders to another base....I would simply wait until you get there and (as long as it's 100 miles away from where your VA loan is) then use the FHA loan to buy a small multifamily.Live there for a year in the FHA property.....THEN refi out of your FIRST VA loan........turn it into a conventional loan.......and then Get a VA Loan at the new duty station that you got the FHA loan at.....then when you get orders somewhere else....REPEAT.I know of people that did this VERY succesfully when I was in the Navy and when they did their 20 years they ended up with 2 properties at each duty station every 3 or 4 years for a total of 20 plus duplexes that supplemented their military pension and literally were able to retire at 39 and 40 years old respectively.  

The current (3 year)tenant is moving out Oct. 1st, and while I cash flow $400/month on it, I’m thinking I may want to sell it and use that $100k to buy a couple of duplexes instead.

Do any of you have any good leads, I have a duplex in Tremont and will likely pick up another multi unit 5+ in the Cudell area.

Or you can get a c-class duplex that brings in $1,300-$1,400/mo.

Here is the scenario:I will get my real estate license before my dad sells his 2 duplexes.

I purchased my first home (a duplex!)

I just went into contract on a duplex.

So I am wondering if we should have been very clear that we wanted this duplex for the "added value" we wish to bring (by rehabbing) and turning around and renting & refinance...

I currently have a duplex in Waynesboro and 2 in Chambersburg.