Thanks everyone for the quick responses.

Sometimes the language will say for estate planning purposes only or that the borrower has to maintain a certain ownership interest percentage at all times. 

I won't brag, I'll leave that to others but I will give you one important piece of advice.Being that you are a stay at home mom, which I am a huge fan of, you can classify yourself as a "real estate professional" for tax purposes.

If you are going to move forward, and this isn't a scam (i.e. they deposit $1 mil in your account and tell you to carry on), you should probably visit a good contract lawyer to spell out what everyone's responsibility is and try to limit your liability if this thing goes south. 

@Bob Okenwa thanks for your response however you can use the va loan for investment property.

@Davey DavanoskiYou can have all the rental payments go to your personal savings or checking accounts, or for the purposes of easy bookeeping, you can also setup a checking account for the LLC and have everything go in there.Then sweep out owner funds each money to your personal account when needed.But, that is just for bookeeping purposes.

Unless, of course, you're moving money into a different property because for tax purposes like you can no longer take depreciation, but that's several years down the road...A the end of the day, you set your criteria for what you're looking to do.

Thanks for your response.

@Alexandra Lowry Thanks for your response and putting in perspective for me, we are for sure going to use the VA loan overall.

I posted a rental and got a lot of responses but almost none had filled out a profile.