My wife and I have done about 30 flips over the past few years, typically with a partner of ours that has a good amount of cash which he invests, then we split the profit.

For example, when you buy a note at a discount and then it pays off early there can be a huge increase in our yield. 

I will do minor renovations over the course of that year then flip for a profit.

I've seen some clients in Denver throw in whatever furnishings they find on Craigslist or FB Marketplace and then wonder why their short-term rental numbers aren't great. 

Create & define your Buy Box and then find properties that fit.Make offers that make your numbers work, not the asking price.

A property I am putting an offer on tomorrow has an upstairs section I conservatively think I can get $1500 for (master bedroom + small bedroom OR bonus room for office), then two bedrooms downstairs for $1,000 each.

If the property is not occupied for 6 months out of the year, (and you will have to prove that) then you will have to pay $3,000.

@Emmanuel Ola, as others noted, there is a lot that doesn't make sense about this whole process.But ultimately, if you have a FULL scope of work with everything included, and he is willing to do it for $45k, then great.  

Then when we went to close the mortgage on the land and the construction loan would be taken over by the VA loan.Hope this helps.

I have found what I think is a good passive 1031 option where you can earn 15% and then get out in a year and 1031 into something else.