Are houses appreciating?

I’m currently renovating my house and turning it into my first rental.

Most new development is well over this mark and, since there aren't likely to be many more complexes built that offer decent living conditions for lower-end rents, there is probably some room to raise Class B/C leases in the coming years as more people move into Louisville.And, if things do decline, the "luxury" crowd is going to be looking for cheaper digs. 

It is a semi-attached row house that I live in.

So the house wound up needing the drywall, kitchen, bathroom, roof to the garage, Plumbing, Gas and other stuff done. 

I am looking to use a VA loan to get a house but want to purchase a rental property and get started on getting cashflow.

Let's say 3 young single guys want to buy investment triplex.  5 years later your credit is all tied up in that triplex so when one of your partners gets married and has kids and his wife wants to buy a house for the family, they can't do it, because his name is on that investment mortgage. 

I've done some research and see some suggesting randomly showing up at the house (don't want to do that) or sending a letter/mailer (those things are usually thrown out).

Either they invested a long time ago, or they have business that has paid for the development of the asset.

I have opportunities in NC for houses that are all-in around 75-100k, ARV 125K and rent for around $1200.