Unless you have other plans for the building that makes it more cost beneficial  to get rid of him now. 

What percent is fair -- I already have lender relationships, working capital and am a PM in my dayjob, so handling the general project plan is the fun part for me?

Sounds like a plan!

I’m Chimere, I’m new here, and eager to start my sit down plan!

I am planning to invest around $100,000 into my first Buy & Hold house within the next few weeks, ideally a 3-bedroom with at least 1,000 square feet.

However, if you plan on using the equity through a cash out refinance to invest in something else, this is another story - you can use leverage do buy more properties and scale you portfolio.

We plan on using the VA loan and to buy down points, at least 1 percentage point worth.We’ve considered a house at a lower cost (250-350k), but they generally need some work (kitchen/bathroom renovations).

So that begs the question, do any of you have an exit plan?

Once you have systems in place and have developed standard operating procedures and a plan for management you will be fine.

Am planning to acquire more in same neighborhood and just wanted to know if my experience was the exception or the rule, going by the list @Chris Dawson published.