I'm sure if you did a quick google search you could find something similar for NJ.

Our particular friend wants to be a passive investor and wants their money back as quickly as possible.

I think it all depends on what your risk tolerance is, and what your timeline is for how quickly you need to access the money.

Let me know and I’d be happy to work through some quick analysis and see if I can help you out.

There's no real 'fair' way to truly separately meter the natural gas used for the different units, unless you get into rabbit hole land of re-inventing a wheel and a series of sensors measuring heat and air flow within separate ducts, on your (customer) side.I'll comment on each option individually and your decision will be numbers driven. 

Ideally, I’d like to buy a SFH or small multi unit with a VA loan where we can buy at a discount or force appreciation with some renovations while living there to gain equity quickly, then rent it out or sell when we move.Any advice on some areas with a reasonable commute to the Naval Station, good schools and low crime?

I figured it was time to post a quick introduction. 

It's not a big deal for them to generate some comps real quick.

@Christopher PhillipsOur plan is to start with flips to build capital quickly, then focus on rentals to build passive income, and once we have a stable base of income from rentals, build other tiers of income.

Quick execution, fewer hoops to jump through compared to banks.