I'm a little strapped for cash, but now I just found out that I can get what is called a second tier VA loan.

Our portfolio sits at three SFR's, which we will be looking to expand in the very near future.  

I am currently renting a place for $1,000, and I would like to "house-hack" and live in the 1BR unit (all numbers assume I am collecting rent from all three units though):Offer Price: $365,0003% Seller Assist: $6,400Total Income: $3,200Unit 1 Rent (2 BR, 1 BA): $1,250Unit 2 Rent (2 BR, 1 BA): $1,150Unit 3 Rent: (1 BR, 1 BA): $1,100Total Monthly Rent (before vacancy): $3,500Total Monthly Rent (assuming 1/12 months is vacant): $3,200Total Mortgage: $1,940Monthly Mortgage: $1,700MIP: $240Total Expenses: $1,065Maintenance/Repairs: $280/month (~8% of total monthly rent)Property Taxes: $240/monthInsurance: $170/monthCapEx: $175/month (~5% of total monthly rent)Water: $150/month (not metered)Miscellaneous: $50/monthFYI - did not budget for property management, because I intend on living here long-term and self-managing$3,200 - $1,940 = $1,260$1,260 - $1,065 = $195 cashflow/month

I am not doubting that, but in a mid-tier once-rental turning to sale, I would only look at the four options above.

Currently have three properties in three different states. 

We just recently purchase and put a tenant in a property for a landlord out of New Jersey so long distance isn't a problem.Give her a call at three, two, one - five, one, four - seven, three, two, three she'd love to chat with you and tell her Jonno sent you :)Or you can shoot me your number and I can get her to give you a call at your convenience.Cheers,Jonno

Three tenants are on the lease for her house, but she pays 1200 dollars in a check every month to landlord and her sister pays 700 in a check back to her.

The rest in three additional months so a total of 6 months to be safe.

This is a three part question....Am I wasting my agent's time?  

Thanks Jeff.One attorney said we did not need a PPM, only a subscription agreement, as we are raising via word of mouth and it is a small raise.