Some real quick items here:VA Loans are for Primary HomesYou can use VA Loans for 1-4 unit properties (House Hacking)VA Loans have 0% downpayment (most of the time)You can have more than 1 VA loan (some people don't know that)VA Loans do carry a "funding fee" which is like a little "tax" to write the loan, but it is waived if you are a disabled veteran.VA Loans do not have PMI (and that's a huge benefit for us)VA Loans also have a very streamlined refinance feature (called a VA IRRRRL) which makes it super easy to refinance if rates were to fall (hopefully that will occur in the future)VA Loans can also be used by a surviving spouse.The VA may not give us the best health benefits but they can certainly get us into debt!

I'm pretty familiar with car washes in the So Cal area, 5.5 (including land) is a bit on the high side here.  1.8 on the other hand (including land) is unbelievably low. 

They will not use the income if you don't have those lined up by closing.Tons of people do this, and I also did the same thing earlier this year. 

Please come back and post a follow up, even fi you wind up losing money on the transaction, because it is a good opportunity for new people to learn how difficult flipping a house and turning a profit can be.

Quote from @Linda Barbano: This is what they do when they steal homes from good people.

If you only have to put up with a handful of late payments over 2-4 months before their lease term ends, you could simply non-renew their lease for cause (consistent late rent payments), and then lease it to a new tenant. 

The house is built in 1922 and has a handful of issues.

I know of people that disregard this rule but it's ill-advised to do this because if the lender finds out about this fraud, they can call or the whole amount of the loan to be due. 

But if these Seattle projects will, two years from now after HB1110 rules are in force, appear to have been an ephemeral thing that came and went among a handful of limit-pushing builders,  our development might end up seeming weird (which could impact both buyer appeal & financeability).I know there's no crystal ball and the State rules have been changing rapidly, and might still change further. 

You will connect with so many great people and get tons of tips and pointers.