From what I can gather so far,  I don't it plays an important role, but just wanted to check with the larger community.

This is a long term play.

Screw the stocks, thats the safer AND more profitable play.

I’m doing one right now and will get 245k cash back to play with.

The Bigger Pockets calculator is a great tool for basic underwriting and to play around with the numbers to see how they impact these metrics.The VA loan is a great example of how your cost of capital can make or break a deal, which should give you a competitive advantage to make a deal work that others cannot.Good luck!

Can I do something immediately to ensure it is not lost...The last one is a wild card and is a risk adjusted play...If I found the limit was 2 years, and I knew that the site was vacant for 5 years I would ponder who else actually knows, and can they prove it?

Thank you guys so definitely seems like a cash flow play as oppose to appreciation if I were to go for it

Harvey,There are a variety of factors at play, region will play a factor, age of property will play a factor, diminishing returns plays a factor (for instance going from 2nd to 3rd bedroom will be more valuable then 3rd going to 4th) To me the key to to a CMA is get as close of comp as you can when it comes to these factors (square footage, bedrooms, bathrooms, age, size of garage, size of yard) Once you start diverting too far it become a bit more of an art then a science. 

The rule is in play;  you can get cash when you don't need it, and usually when you need it you can't get it...

I started by figuring out what I needed from them and then worked with my selection at a low-level prior to putting larger chunks into play.