We've raised the rents and are getting ready to sell 3 renovated homes on RTO contracts.

The LLC is an Ohio entity with an agent located in Ohio, and we also have local property management. 

The VA ‘loan limits’ are based on county in which the home purchased is located and the unit size (SFH, duplex, triplex or quadplex).

For the MTR option I calculated a rent price of $2,900 (on the lower side) and got a ROI of 12% but a negative CoC return.

As you've already observed, when you buy a $500k property and finance at 50% LTV to rent for $2,800/month, your Cash on cash is abysmal.

The hardest part of the deal was finding someone who would finance 50K for 30 years and be ok with making $1.48 in profit a month.My mortgage payment was going to be $312 and this house, by my estimate should rent for $1,050/ month - which it did.

Purchase price: $215,000 Cash invested: $55,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

You could visit the idea of student housing in university area of Charlotte with a SFH and rent by the room. 

After a few months of paperwork, my lawyer has confirmed the sheriff will be going to the property to evict my tenant for non payment of rent. 

Bank statements for last 3 months and last years taxes should show proof on stability of rent payments.