I believe as long as the property pays for itself - which it would with the proper terms - then you can have two VA mortgages (depending on your qualifications).

A RE license is real-time access to vacant properties, showings, and the more important thing, the MLS so you can run real comps and proper ARV and know rent rolls that you may not have access to outside of the MLS on syndicated sites.

They are starting with commercial and will surely go after residential in time, There is too much money for them to leave on the table with Cali's long term debt issues.But still, I would guess it is a great market to invest in because it draws a certain type of person that likes the weather/ lifestyle/ambience and since it is your native home, it would be somewhat difficult for you to relocate and learn a new area....

@Frank Chin makes a valid point of not being able to predict cashflow if the HOA is not run properly.

2 different issues….1) proper notice prior to the first of the month in order to be enforceable2) of course the tenant has to pay rent for the time they occupy the property, it’s a ridiculous question…..even for the 15 days if they move out early as They would have been required to give proper notice. 

If the property owner Properly contests the lien, the time to file suit by the contractor is reduced to 60 or 90 days. 

Speaking with a proper attorney on Monday to make sure things are going to be correct. 

This seems like a lifestyle / passion project.

That being said, that means the proper way to do this would be to get a commercial, i.e. non-residential loan, since a legal entity such as a LLC is not eligble for a conforming residential loan. 

Hopefully you know how to determine your dti properly and don't forget that lenders will recalc your rental profit/loss on 75% of the rent schedule (not 75% of the profit...).I hope that helps.