@Leticia Ramos if this were me, I would only proceed if we had specified in our lease with them that this was an eventuality and that they had agreed to it by signing the lease.If your lease is silent on this, then I would wait until lease renewal time and make those conditions part of the new lease.

If you’ve never owned then conventional absolutely makes the most sense since interest rate and down payment would be lower!  

We moved out in June 2023, and since then, I've been renting it out, generating around $1,450 in monthly cash flow, not counting variable expenses.

Fannie Mae wouldn't purchase the loan if it didn't meet that requirement.As for a team in place, although that's good, you'll still need to show that you have actual experience managing real estate in some capacity.If you switch to a conventional loan, from VA, then you don't need to have management experience.

I am curious to learn what you may have found out about the various sits since then.

Think of the EXTREME example where someone buys a ratty house in a TERRIBLE neighborhood and then GROSSLY over improves it because that is what they know and like themselves.

DO NOT GO SIDE TO SIDE against the grain or swirl..... one full pass going with the grain, then move over and do another full pass...full length.

Then they quickly lost interest. 

I believe that I would then be able to rent out my single family house.

Approach some people you would love to add to your team and make them a better deal then they have now!