I have been advised that legally I could force the buyer to close, with the letter of indem. 

When you need legal advice it should be discussed openly at the meeting and a motion made to contact the lawyer.Fishing Derby Funds - a set amount (say $1000) should be left in the account from year to year as seed money.

Approved for a $300,000 VA loan. 

Since it takes so much to take the papers and start running my apartments I consider now starting a business where I can deduct all my expenses like the homes fixing at the beginning and the future properties that I consider buying but by doing this plus the short-term renting that I consider with tourists/visitors I feel more risk exposed since I will have to pay for a business loan with 6% interest, and an accountant to keep my business papers which will need another 120€ Monthly(that's for a Private Company which is considered to give a legal protections since me as an Individual is not exposed similar to protection that an LLC provides at the USA.)What is the community's opinion about what will be better for me? 

Secondly, is it legal or allowed to buy a new house in a neighborhood and rent it out?

It's a waiting game even when you do succeed in taking legal ownership of the properties.

As such I am looking to get pre-approved for an FHA loan, since that seems the best way to get started. 

@Henry Der you need to get some legal and accounting advice. 

Do not rely on it for legal advice.

Whether it’s legally or financially?