The VA loan is very low down payment (highest mortgage amount possible) and you have to owner occupy, right?

I'm hoping to be able to locate a property that needs a decent amount of rehab work.

I am now hoping to keep the cost of the work under $40k while bringing it up to "market level", because this is the amount that I was told would be added to the appraisal if the "market level" renovation work is done.~ JonPS new appliances are already in the bag to the tune of $2000.

The rate will be slightly higher or lower depending on the area and the coverage amount.

If you gactor in that rents should have increased over 5 years you can use that to offset even more without cutting into cash flow.That being said, I have started to make extra monthly payments towards principal on the notes that will come up in the next 3 years for refi, which will bring the baloon amount down significantly.

It’s common for lenders to have minimum loan amounts (i.e. $50k, $75k); however, there are lenders out there that don’t have any minimum amounts.

If you disagree with the landlord's return amount, you can take it to small claims court.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

I cannot tell you the amount of issues I saw on so many different levels in that city.

@Brian Horwitz  That's a great strategy to use the equity in your rental portfolio to essentially double the amount of properties you own.