I'm still building my plan as I put together my funds and determine my risk tolerance, but I have considered both.

I’m looking to purchase my first income property and I’m looking for some feedback on my plan to purchase with zero out of pocket. 

On a dwelling fire policy, or "landlord insurance policy" coverage D is generally 10% of Coverage A. 

Find a PM that has a policy against renting to family, friends, and employees.3.

That business is comprised of policies, procedures, structure and laws, many many laws.

As has been said already identifying your investment class and investment tolerance, A neighborhoods vs D neighborhoods.

Ultimately, it comes down to your risk tolerance.

If you can use your VA loan to buy a property to live in, which will turn into a cash producing asset down the road, I definitely recommend doing so; take advantage of the zero down loan if you are able to.

@Jason Munger 20% of the purchase price annual gross And zero regulations.

You have $400k in new debt that you have zero track record of paying on time, so temporarily you're a higher risk.As you establish a new on time payment history over the next few months, your FICO will bump up higher than that drop, call it 75 points.