Make sure the contractor is tracking long lead items to keep the schedule on track.

@Nathan Gesner  In RI it is now 90 days they can provide the check and you must accept it, to me that is too long.

This is an exception.Theoretically you can have unlimite properties using VA loan as long as your benefit is not used up, but realistically no way you are going to keep on getting an exception.

They seem, at the surface, to be a logical instrument for long term incentive alignment, especially in today's market.

A quick google search for "va loan bonus entitlement" should provide you with all the information you need.Yes, anyone can assume a VA loan so long as they financially qualify.

I hope many others see this and understand why I post 100 X a week, never do business without a team in place that has a long-term mutual benefit. where in oh 

Welcome @Sartaj Ghai,Sounds like you are off to a good start and have the right long term mentality to go far with this!

Lastly, renting by the room is a nice mix of increased cash flow and long term appreciation.

I'm a CPA and full time real estate investor, have flipped hundreds of properties and own a rental portfolio (both short term and long term).

Having a separate account to hold security deposits is a good idea.Having another account for business operations is also a good idea.There is zero risk in opening a bank account and it doesn't take that long so you can do it now or do it later.Good luck