I guarantee this isn't a 14% cap rate property.- $401/month net...with that kind of condo fee...not possible.

Because as soon as you refi with an institution, it is going to appear on your credit score, impinging on your ability to do further deals.Some icing on the cake, depending on how well you know the couple, and how old they are - You could ask them to take out a life policy on their lives, that will cover the capital on the loans should they die - The surviving spouse is guaranteed of getting the capital back, and you will have a windfall that can be used as a nice deposit for something else.

You can also get a letter fro a VA advocate on this matter, don't know what they will say.The VA guarantees the loan, a lender must be willing to provide the loan under their usually requirements, it's not really up to VA to approve any loan they just guarantee the loan. :)PS.

The OP was contacted by them and paid 5K of his own funds to stop the sale and in the process risked his money (no guarantee that the sellers would go through the deal).

My plan was to purchase the homes in the name of my LLC through typical conventional financing, and then simply guarantee the loan under my name.

This means you or a disqualified party to your plan are not allowed to pledge a personal guarantee, and the lender’s only security will be the property.

Think we are making $5 million to $6 million on this one with no money down and no credit/guarantee required. 

Paying off the interest on the debt is basically an investment with a guaranteed/fixed rate

Guarantee her $2000 per month rent and if you get more put it in your pocket.

Cashiers checks and money orders are guaranteed funds and cozy is lower risk then checks but  convenient for you as the landlord.