Based on what you are looking for, I am willingly to bet that the land + building a 4-unit townhouse will exceed VA entitlement - unless you have the resources to reduce cost significantly or the funds to fill in the gap.

Since it’s my first one, I want to reduce the friction points as much as possible so I’m focusing most of my attention in areas where I have trusted people.

I am trying to figure out the real motive of doing so – is it multiple owners with some of them leaving or owners reducing their investment or some other reason…2) Since I will end up owning only 10% of the doors how do I ensure equal marketing as the doors are still part of a single complex?

The idea is to minimize/reduce that risk and that can be done by having the right teams and people in place.

Maybe reduce your hours or pursue a different career path, in addition to the income provided by your rentals?

And since many lenders won't loan  on any purchase that is too low that reduces it even farther.

Sometimes wells have reduced flow in the winter due to water table fluctuations if its a shallow well, so you may only need to supplement with an occasional water delivery.

The downsides on the line of credit are the risk of the line being frozen by the bank or reduced entirely so when you really need the money it might not be available.

Let them know that you'd like them to be more proactive in finding you deals - or do your research and work with a better agent. 

What opportunities are there to reduce expenses or push rents?