With a note (while you can force appreciation by converting from non-performing to performing) you won't see any other appreciation, taxed at regular income rates, and lowered equity over the course of the payment schedule and it looks to me that you are only investing for cash flow. 

Most people don't get to say they had a SUCCESSFUL FIRST FLIP!  

@JJ WilliamsI am not a fan of giving cash flow or equity or anything like that in these scenarios- I would rather pick a fixed rate to borrow on and have them act only as a lenderAs time goes on cash flow will increase over time - do you want to owe them for perpetuity on that asset ?

VA loans are the easiest loans to use with installment contracts since they were assumable, which means that with the interest rate being assumable, the lender lacks the basis of the interest rate risk under the due on sale clause.It's easy to check with the lender, just ask if the loan is still assumable.

I believe that successfully navigating this initial investment will pave the way for future opportunities, whether in the same market or elsewhere.Living in New York City, I faced a challenging market ;)I chose Montgomery, Alabama.Here's my process:I compiled a list of states with favorable landlord laws.Using Brightinvestor, I identified cities within those states where the median home price falls below the national average ($420k).I excluded cities with negative income growth and rising unemployment rates.I focused on cities with strong appreciation rates over the past five years (over 10%).I compared price-to-rent ratios.I did break two rules: Montgomery has a slight decline in population, and its largest employers are an Air Force base and government agencies.One significant factor that influenced my decision was the promising price-to-rent ratio, suggesting potential for positive cash flow (though I remain cautious about appreciation).Regarding my acquisition strategy:I plan to employ the BRRR method with cash.

Congratulations on your success Abdullah!

Asset based mortgages carry a better rate but you are going to have your assets locked up not able to touch until you refinance or sell the properties.

Any of the tax options that don't pass through are likely taxed at a higher rate or create other issues with their structure.

If the pricewould have been $20k less I would have been good with just a VA loan.So depending if you're looking at a larger more expensive house, I wouldn't refi the 1st one as I'm sure your interest rate is pretty low, plus adding closing cost would add more $ being refinanced.

They may come up but understand that rental rates are generally well below market (hence the discount) and these deals are largely off-market if you're able to find them.