Several years ago, even with high cash flow from a business, I felt fairly locked out of the places I wanted to purchase due to endlessly rising prices and rates that required constant underwriting revisions to the point where it wasn't worth the time expense. 

But then there were some repairs necessary to pass an occupancy inspection, so the lease will have to be cancelled and redone with a new move in date. 

The purchase price of this three bedroom two bath 2100 square foot home is $230,000.

the HGTV formula is: sales price minus rehab minus purchase = profits. 

If you have just purchased a property, it would be money well spent to have it inspected by a risk management consultant.

Purchase price: $140,000 Cash invested: $140,000 ARV 375,000...currently making monthly interest only payments to investor...using as primary res....Will refinance in a few months and use equity for other investments.

If you plan on using VA eligibility to purchase a home then you would have to buy it as a primary residence. 

As mentioned above one way to mitigate the tax bill when due would be to convert the acquired property to a personal residence and use as such for the next 2 of 5 years, and cancel out $500,000 of gains, if married.  

The lot was purchased cash and the house will be built cash as well.

I purchased a tax certificate for a property that sold to the state of Alabama in 2019.