Another thing you could do if you wanted is to pay to have a home inspection done.

The owner of that property in question cannot restore his full VA entitlement until such time as the VA loan is paid off in full.Further, even if you gave him the 3.5% down on FHA, his DTI will still be hit with the payment on that VA loan, almost certainly killing his next home purchase before it even gets going.And if he gives up on homeownership, all the future potential landlords are going to see that mortgage on his credit, and likely consider him unqualified for the rental unit.Unless someone is going to write a check to pay that VA loan off in full, this is a predatory activity and the victim is the owner of the home in question, given his goals and the proposal on the table.Do the right thing.

Since he is silent, you can get the LLC w/ SCorp since you are flipping to reduce taxes.

Also, I want to have an additional income stream to my pay. 

because of the issues you guys are facing. now maybe these folks are paying cash to build as well ?

Do I have to pay to clear /paint or fix the driveway?

Start working right away and you could have a well-paying job, be debt free, and own a couple investments within four years. 

Would I be making a mistake paying the $997 for the Bnb formula?

Folks are fighting to pay $700k for a duplex here with market rents of $3,500.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).