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.

After three months and every thee months after that would be a common strategy for Probate. 

I have done a few flips with some people I know but it was in Texas and unfortunately the money people didn't want to listen to me or other contractor (brother) about where to spend money and where not to so the three houses I did and spent a lot of time away from home to do didn't net me anything.  

Here is the latest example of a neighborhood of local residence protesting in front of a 6 thousand square feet hour house that just had $350,000 in renovations three years ago and will be town down for a larger home to be built.

@Briana EcholsI have been in the real estate industry from the lender point of view for about three years.

Hello Axel, As a RE agent, I always recommend three or more vendors. 

Evictions can take a while, and damage needs to be fixed, and then some kind of marketing for a new tenant  I recommend three months reserves for every property  I recommend that you be licensed so that you can show the property in case it interferes with your realtor laws in Oklahoma  I also recommend that you have some kind of a collection company that takes the payment directly from the tenant buyer to the mortgage company not to the seller  If you do have reserves, and the tenant buyer wants to buy the property, I use a reverse assignment technique that basically create your equity in the contract in the form of a note, attached to the property, and instead of two closings you have one closing, a new contract from the seller to the tenant buyer, but you get paid when the house closes and pays off your noteI love Oklahoma City because it has great  Yeilds between what you get from rent and what your mortgage payment is PITI

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