It depends how much you can afford to put aside.

With many seasoned real estate investors locked into low first mortgage rates and large equity positions, many borrowers and investors have been exploring tapping second position loans like home equity lines of credit for reinvestment capital towards down payment or rehabilitation funds. 

I have such a good rate with my VA (3.25) that I really don't want to refinance it after a year and go with conventional.

This would be more dependent on the  surrounding zoning, future land-use maps by the City, and the City's input. 

A lot depends on whether you want to hold your partnership together, or blow it up?  

The cancellation fee will be calculated at the amount of the last full month Management Fee rate multiplied by the remaining number of months in the term or until expiration of the existing tenant’s lease, whichever is greater.The background: I was using LSI Property Mgtm Corp to manage my 3 duplexes in Panama City FL. 

Hey Renee,Pros include guaranteed rent payments from the government, a large pool of potential tenants, and potentially lower vacancy rates.

Because Pittsburgh seems to be taxed at an even higher rate than Philadelphia.

All depends on guest avatar, personal preference, and the ROI an investor is looking for.

So any cash you take from the exchange to pay yourself back for those expenses will be seen as taking profit by the IRS and they will be taxable.If any of your vendors are willing to wait and put those expenses on the settlement statement then they might be eligible depending on what your accountant feels.