Should I replace the entire roof or just try to manage the smaller parts?

With the VA loan you can transfer it to another service member or veteran and they get to keep the same interest rate, but they would have to come up with the remaining balance (~$235,000).

Our initial plan was to hold it as a MTR (medium term rental) but decided to flip instead in order to fund the purchase of our new primary residence.

Hello, I’m new to the forums and I’m excited to learn.

This comes up all the time, and this is just another reason why it should not be done.

After some research, I've come up with the following:- Blown-in insulation to fill the joists with hard-packed cellulose- Add asphalt panel board layer across the entire ceiling to the existing drywall and fill the cutouts. - Add a second layer of 5/8's drywall to the asphalt board. 

It all comes down to area and ROI as to if it makes sense or not but logistically it's a great idea.

If you are going to be held responsible for the bill, I would first try to get on a payment plan with the company to pay off that balance.

If you want to rehab in that market, perhaps spend some time networking there and maybe you will find someone whom you can partner up with who has experience in the local market and with rehabs.

I've come to Bigger Pockets to learn some tips, tricks, and hints about real estate investment and to connect with folks who have similar goals.