If it’s upside down now at the top of the market how much worse will it be in a couple years during a correction .

This property caught my eye for several reasonsmostly because I drive by it frequentlyit offers a commercial space, apartments, and mobile home lotsit's close to my other investments and where I liveI feel like this is an area ready to grow (it's the non-interstate link from big town to small town)it's not so expensive I can't find a way to do the dealI've been investigating mobile home investing lately, and this is one way to learn thatI don't have a physical office space for my business, and this would lend credibility to my business (and allow me to have high-speed internet, which I can't get currently)I can use an apartment and rent my SFR for morethe mixed use feels like diversificationI wouldn't be surprised to see an investor try to buy this and several other spaces up for a large developmentI see potential in possibly converting the mobiles to tiny houses and increase rents accordinglyI'm not in love with the deal, but a couple of those reasons would sway me to consider a less-than-great deal, for non-financial reasons.The numbers really look not very good, and it looks like a bad deal as it sits, considering I'm adding 1000 in rent increase and no rehab in this scenario. 

Learned that the hard way a couple yrs ago on a deal--- lesson learned Yes?

I have had my eyes on a couple fix and flips and was wondering if I could use the 203k FHA Rehab loan while I have a VA loan?

Most newer investors in the game now a couple years are running around taking money as experts from other nesbys.

So long as you've got good credit & income you should qualify for a loan.On top of that there are a couple exceptions that would allow you to get an FHA loan such as job relocation or family growth.

I might have a couple contact for you, I'm connected with other wholesalers in different markets and just picked up a package of 5 SFRs myself to wholesale.

It has been going up 15% for the past couple years. https://www.weknowboise.com/blog/real-estate-market-trends/ That's not to say I want to 'bet' on appreciation, because I do not want to be playing that game.

@Csilla Veress A couple of books that may help with understanding PV (present value) calculations, as well as note investing in general, are:Invest in Debt by Jimmy NapierPaper Profits by @Joshua Andrews  (my personal favorite)This blog post by @Mike Hartzog may also be helpful:https://www.biggerpockets.com/blogs/5359/41924-doi...PV is the way most note investors do pricing for performing notes, but for non-performing, you'll want to build an ROI calculator as  @Chris Seveney suggested so you can look at various exit scenarios and take into account costs like servicing, legal fees, insurance, etc. 

Sure its not a flip but aleast you can make some money and save up and become great at marketing so you can do a large amount of flips in a couple of years.