As an investor you are allowed 10 for yourself - 10 for your spouse ( assuming they have W-2 income  separate from yours ) for a total of 20.

My Question....Assuming the building’s conditional rating remains the same. ( Example, purchase a C+ building and it remains a C+ building)  is it....Highly Likely,Likely, Unlikely or Highly Unlikely ....that the the next appraisal for the refinance will use the same cap rate?  

I would also assume the repair cost is low, especially considering roof. 

Cap rate is reflective of the risk of the asset, assuming it is in performing condition.

@Michael Pitsos I'm assuming your home is where you've put in your profile and according to the  VA Loan Limits for BARTOW COUNTY, GA for a one unit home (SFR) is $453,100 and $580,150 for a two-unit so depending on how much you bought your primary home for you'll need to subtract that from the max limit and the remainder should still be available to utilize.

@Bryan Caprioli I don't know the answer to that, but I assume that if I write a strong lease and sign it, it would hold good.

It’s a small community, less than 5,000, so I assume that makes a big difference, but makes me wonder how much I should share with a lender going forward!

I don’t ask for a positive review specifically, but since they’ve already told me they had a good time, I assume I’m getting a good review.

Let’s just assume we reach in 2020.If valued increase as you said they have so far, you would leave 150000 on the table, instead allow the owner of the place you will rent to increase value of his place with your money.

I would have to assume it is not a guarantee on the 12%, but instead a guarantee that if they don't make 12%, then the company doesn't make money or some other stipulation.