If we went with traditional investor financing were probably looking at tying up at least 60k just to purchase the property, not to mention the rebuild costs.

If you spent a decent portion of this $150K on capital improvements, in theory you will be deducting them over the remaining economic life of the properties.

This triplex was my first investment property and therefore has a lot of my equity tied up in it.

Despite the onslaught of inflation increases, most Fed officials remain reluctant to change policy.

Then use my VA loan to go get a nicer 4 bed for my family to live in.Pros option 1: Only 3.5% down, doesn't tie up another VA loan, if  flip is done right I could refinance into a conventional loan.Cons option 1: Could be tougher to cash flow with only 3.5% down plus the PMI associated, forces family to live through a flip.Option 2: Buy home with VA loan, live in for 4 years, move out and hold as a rental.Pros option 2: Easiest solution, least amount of headaches, family doesn't have to live through a flipCons option 2: Doesn't provide the most amount of potential growth, ties up another VA loan.Option 3: Buy rental with conventional loan, buy personal home with VA loan.Pros option 3: Easier solution, doesn't force family to live through a flip, gets rental and nice family home at same time.Cons option 3: Won't have the money to do major renovation on rental could cost more in long run, ties up a lot of money in rental, slow growth without doing renovations.

(or any evidence that rent is likely to remain steady?)

And I can't imagine that PM having the right to keep the entire rent, let alone remain as the PM, perhaps @Will Fraser would know more about that or have a lawyer to recommend.

I understand if I had a mortgage on it and as long as the NOI(rent, expenses) surpasses the mortgage monthly payment, whatever remains is consider a positive cash flow.

Best to just remain silent aside from the cost of the property itself and your assignment fee.

The town told me that its NJ state law that for multifamily properties; 1) all renovations need to be completed by a contractor, including insulation and drywall. 2) signed architect drawings need to be submitted even though the the footprint is remaining the sameI'm waiting for the town's building official to get back to me with where the state requires this so I can read it for myself.