Most note buyers seem to come from RE, adapting skill sets from that point of view is rather flawed, especially those thinking they will acquire the property as if they bought it.

My goal is to acquire multi unit and/or condo rentals in the Chicagoland area following a basic buy and hold strategy and look forward to using BP as a resource for achieving thus goal.

You combine this with the 10% discount coupon and you save 20% on each purchase.Every time you acquire a property, Lowe's and HD will typically send you a 10% discount coupon.

We are looking to acquire properties I'm the area and would love a good referral.

Factoring in that you have acquired ease of finance through the seller at a very low rate, you have a slam dunk.

In your case, you acquired the property in 9/2013 with the intent to sell to a builder.

Although I do have some investment ideas, I simply need to know if my plans are viable, or whether i'm thinking way over my head.I do plan on purchasing my first home using my VA loan. however, In the distant future I would like to purchase and acquire single family/student rental properties.

Is my assumption wrong that you are speaking of a real estate property you are doing what with, sell or acquire or other?

My long term goal is to flip a few houses per year and use those profits to acquire long term rentals.

(though check with an FHA lender)From FAQ on the HUD website:"To prevent circumvention of the restrictions on FHA-insured mortgages to investors, FHA generally will not insure more than one mortgage for any borrower (transactions in which an existing FHA mortgage is paid off and another FHA mortgage is acquired are acceptable)" (italics added by me)In your case, the refinance you plan on doing will pay off the "existing FHA mortgage", then a new FHA mortgage is acceptable.The caveat.."