All permitted as I understand.

So, you need to be paying extra on your two loans so the outstanding balance on your loans is always below the outstanding balance on the buyer's loan. 

It definitely takes an extra layer of communication and trust on both sides... if you invest out of state, make sure you get some client referrals and ask for pics/videos of your properties during turns and rehabs.

Again, a little extra work but final product is great. 

The VA loan also seems to have extra stipulations regarding when we are allowed to refinance.

@Amy Thompson, The qualified Intermediary is an extra piece that has to be in place in addition to the regular title company or attorney closing the property. 

Most attorneys will settle a transaction as part of their fee, but even if they charge a few hundred extra, the title company charges just as much typically for settling, so you're just moving that fee to another part of your settlement statement.

What is the permit process like?

And if that didn't happen, perhaps at closing he'd be like "Hey look, here's a bunch of extra money I didn't think you'd get!"

If you're doing 203k, then everything is being done the "official" way with gov't permits and all that.