I would suggest looking online to see what's in your area for rent currently though so you can get an idea for the price point and quality of upgrades people expect.

If you don't have experience owning and maintaining property, but feel you could, it's a good idea to have a little business plan printed for lender, detailing how you'll manage the property, to show you know what you're getting yourself in for.  

Aside from 2 water worn areas, the rest of the floor had normal wear on it.Any feedback on the above and ideas for paths forward are appreciated!

@marcusauerbach had the absolutely right idea here.   

The whole idea of the VA loan is to enable military members and veterans to purchase a "modest", safe home for themselves and their families.  

I have about 60k that I want to use to acquire another rental but not sure if N.VA is the place to do it as I don't think I can find any decent townhome for $240k which generates cash flow.My idea is to keep acquiring a few properties  in the next few years which can generate passive income flow. 

It would also allow for air flow up there too.I'm looking for anyone who has experience and thinks it's a good idea, or anyone who can think of a reason not to do it.

I'm starting to poke around with the idea of starting out in the multifamily space with apartment investing.  

Hoping someone out there has some ideas. 

Once I figure that out I might have an idea of what would be the best route to take as far as fixing and flipping or rentals etc.. but I def will keep you posted