The bank is giving a special warranty deed which basically means they are guaranteeing a title for the time they have had it in ONLY . ( not for the last 40 years prior to them taking it back) I did a lot of searching on my own and it looks good  .....  0 liens on the property .  

@Trey BrooksYou might consider Niche or Specialized Housing like student housing.

One word :LAWYERFind a lawyer who specializes in this and is willing to back you up in court.In Indiana, the company I worked for charged 2 months of rent for the lease breakage fee.

Just make sue the specialize in tax and have significant experience dealing with real estate investors.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

IF you go down this path you may want to find a property management company that specializes in working with these types of properties and renters.

And do i need to get a special termite inspection by a pest control company or will an ordinary home inspection suffice? 

It would seem to me that if the cap was removed, wouldn't vets be able to take out an unlimited amount of vet loans after living in each property for a year.http://www.militarytimes.com/story/military/benefi...Just figured I would put this out there to see what the BP Community has to say about that.Might be that my presumption is Bollox though.Sam Harris.

You might consider Niche or Specialized Housing like student housing.

@Matthew RembishUSAA has some amazing listings: https://www.homecircle.com/I am very interested in military communities, so here are a two others:http://www.militarybyowner.com/http://usmilitaryfsfr.com

Is it standard practice to just continually put away that 10% in a special account that's for "repair funds" for each property?