Account Closed You could certainly increase the value of a mobile home by rehabbing it.You're correct that mobile homes lose value over time, where stick-built homes tend to gain value.However, be aware that mobile homes aren't considered as "real estate" by lenders, so they cannot be financed with a regular mortgage. 

As for the original question I do believe the VA benefit is removed from the property once the VA member no longer owns the property, so if they can successfully assume the loan terms they should be able to do what ever they want with the property.

Start the apprenticeship, grind it out, go to college at night (night classes are mostly geared toward working adults), use your military benefits if you can, search for rental property in the meanwhile.Sometimes it can take a year or more to find a deal.

Behind the HeadlinesReal estate companies will always boast about the benefits of acquiring real estate because it is their job.

@Susan O.It could be done, but the transfer in the father's share of ownership would be considered a gift and he would have to pay taxes on the gift.Also, non-married people buying a property together like a father/daughter would lose the capital gains exemption.This is to prevent people from adding their children to dodge estate taxes.

Because you are moving due to an employment situation you can sell that property and take at least a % of the gain tax free. 

However, I can think of two good reasons why you would want to pay off your mortgage early: 1) Let's just assume it is a lump sum and you pay off your 30-year mortgage with a few years left - this may result in a nice ROI (like paying off remaining 20k would result in a 5k/year gain), and 2) you are close to retiring and are okay with putting your cash into your property and want to have lower monthly expenses.  

If I find a property in a strong market that makes $100 a month, put $15,000 into it to add value, hold for 3 years and sell for a $40,000 profit my total gain during that time is $42,400 not taking loan paydown, tax benefits and other potential income into account.If I find a rural property or a property in an smaller metro area that makes $250 a month, invest the same in repairs, hold for 3 years and only sell for a gain of $15,000 my total gain is only $21,000. 

My plan was to rent for a few years with an exit strategy to sell at $100/sf in 3-5yrs so this changes my anticipated gain from $50 down to $25.  

If doing a house flip and spitting profits 50/50 (money/rehab work), are the profits spit after subtracting capital gains tax or before?