The property is a 5 unit building with the following information: Rental income is $4,000 per month or $48,000 per year totalTaxes are $375 per month or $4,500 per year (this is higher than current but factoring in that they will increase)Estimated insurance is $200 per month or $2,400 per yearExpenses: Vacancy 8%Management 10%Other expenses Landlord pays water at $400 per month or $4,800 per year Realize this could be a cost savings in the future, but want to analyze as isGeneral maintenance (including minor repairs on property) including grass and pest control estimate at $300 per month or $3,600 per yearCapital reserves for Cap ex (appliances, windows (52 windows on building), roof, siding, etc. which I based on building a capitalization table based on useful life of items and number of units) at $460 per month or $5,520 per yearLoan: All in after down payment the loan would be for $300,000Assuming 7% interest rateAmortized over 20 yearsThus comes out to $2,325 per month or $27,900 per yearSummary Income Per Year:$48,000Property Exp.

Because you will be saving so much money, it allows you to save money for your next property, all the while building up equity in the multifamily home you are house hacking in.

I have about $60,000 saved up for repairs. 

This would still be fully refundable to the tenant and is a nice way to save up for their next place, be it another rental or a purchase while giving the LL more security.I ask because I get the impression that tenants often find a sense of comfort with their LL's over time and are more likely to get lacks in their upkeep of a property over time.

Should I use a HELOC, Home Equity Loan, or keep saving until I can make a down payment for a conventional mortgage?  

Doesn't add much to the payment and saves cash for renovations, next property, etc.

My dilemma is whether I use my VA loan for the multi family which will turn into an investment property after I change duty stations in two years or save that VA loan for my personal residence once I establish more permanent roots upon competition of my service. 

They then pass the savings on to the owner of the roof that they're “renting”. 

It is worth a few hundred bucks to save your house. 

Even if it is not a savings but close to a wash, I would still consider the refi because it would give me the ability to substantially increase the limits on my existing HELOC.