Keep in mind that you will likely have to move into a new property to be able to use your VA loan, when you do so depending on your local regulations you could lose quite a bit of your current rental income because you would either sell your current property or likely rent out the entire property on a monthly basis.

I tried Googling but just came up with regulations and/or clauses. 

The land is smaller and the local regulations changed where they had to move the septic from the back of the property to the front due to a creek. 

I gave him until yesterday at 5:00 to refund my money or I was reporting him to Virginia's Dept of Professional and Occupational Regulations for not having a license.

Air BnB does nothing to make sure you will be in the clear with local zoning and regulations.

I advise you talk to a local sewer excavator who can scope the line and understands your local sewer regulations.

We're in Portland, Oregon and very few cases can you hit the 1% "rule", and if you do you have to be creative.I wanted to share a win today that has been in the making for the past 10 months because I think it is a good example of what a low cap environment looks like and what a solid base hit looks like for those that want to invest in small multifamily deals.Here are the details on the property:9-units in an up-and-coming neighborhood Purchase price: $1,550,000Cap rate: 4.5%Average rent was ~$995 and Owner was paying for garbage and water/sewerWhen we took over we immediately had a couple units turn over, which was great because we wanted to get in there to do some upgrades (we do a lot on the sustainability side that include reducing hazardous building materials, energy efficiency upgrades, bike storage, decreasing utility consumption, etc).

Questions: Is that would be a regulated activity, so he would need to obtain a permission from his broker to do that?

@Julie McCoy @Ethan Cooke @Sam Shueh I am diving into local zoning regulations and meeting with the City Development office and attending Planning and Zoning meetings. 

Reg CF offerings are available only on a funding portal that has been approved by FINRA (http://www.finra.org/about/funding-portals-we-regulate).