Still rent it out and the next following year transition it into a full time rental.  

Am I required to hire an attorney to write up the contract and assist with the closing?

The reason people seek for distress properties, so that they can acquire the property at a low price and renovate the house aka "value add" so that they can increase the property's value and create sweat equity, then pulling the money out or cash out we call out so that investors can liquidate their money and reinvest on the next project @Albert Bui @Carlos Valencia

I too am active duty and have utilized my VA several times to expand my portfolio as it is a great tool to use if you’re willing to live in the property for the required 12 months.

Plus the gray area between who's responsible for repairs. 

I have had several Colorado LLCs (single member LLCS with one single family residential rental per LLC, so very small-time) for a decade, and always file my periodic report so am in good standing with the Colorado Secretary of State, but have only just heard that I need to file a BOI report before the end of the year.

It comes with the land so no lot rent but there is an HOA.

Many DSCR lenders will base the new loan from the ARV after zero or 3 months. 

We take it a step further and build in factory then deliver the units to the site.

My goal for right now is to gain some funds through wholesaling properties and then eventually obtaining a couple rentals in the next few years.