The VA Reno Loan is a good product but involves tons of paperwork. 

I was terrified....i wish i had bought more..light fixes, and holds, turn over to prop mngmnt, with right funding in place beforehand is pretty easy..even less emotional than being to much into it involved present...i just suggest don't buy substantial fix, rehab and flip from out of state...and not knowing area or connections...but hold is pretty easy, not so hard, with right agent boots on ground...

I am ready to move full-time into the real estate industry, with the right move.End goal is to get involved in real estate investing (fix and flips mostly), but do not have the capital to jump into that yet.

If they involved an attorney you will have problems with these people down the line, even if you solve this issue.

There's lots of things that impact a short-term rental's performance and value that won't fit into that calculator, such as how many it will accommodate, does it have a view, proximity to attractions, are the roads difficult, etc.  

I mean, the next time we sell there simply might not be a property that fits our objectives especially in the 45 day identification period.

If the chain of command gets involved, your interests are the last of their concerns.  

@Jinhee ParkI sold a flip to a FHA buyer.... took us 90 days... it’s painful for all parties involved.

William, You need to do the full math, as @Peter M. mentioned and did for you, the percent rules are just for quick analysis like he said. the percentage will analysis people usually use to help tell them if they want to run the numbers further on the property because it fits a certain % criteria. that's OK but does not fit every situation, what if you know the area is an up and coming hot spot and even if the % number is off - because the incoming rent is below market and you know that they will be going up - then the percentage rule will tell you to walk away and you would miss out on a property that a full analysis from the beginning would tell you to jump on that property because you would know that the rents were below market and that they are going up. forget the percent rules, learn the area you want to invest in, you will learn what the area does, the rent it gets and how much would be a good amount to purchase for based on the amount of rent you can collect for that property.

Great job to all involved.