We spent a little more then usual because we wanted the finished product to be hi quality and we spent on nicer finishes, design and staging.

The property will be paid with by residential lending products and personal money, but how is the business part of this plan be established (i.e., creating a legal contract for rent/finding tenants)? 

This results in trapping a little more plan capital in each deal and slows the acceleration of value a little, but it is still a positive strategy for an IRA or Solo 401(k).  

I have a very large number of points on my Chase Sapphire and Amex and discovered I can get nights at the Hyatt near work for 5000 points so my current plan is to take it slow and learn a little about the market before jumping in.

I personally think it may be premature if you're starting small and slow.

Commercial loan products that just underwrite the property and not the borrower.

Either way, you need to find a commercial lender offering you a product that suits your requirements. 

It refinances that VA loan into another loan product therefore restoring your entitlement.

Great tenants are easy to find if you are providing a quality product in an area that people want to be. 

At that point, we're free to live wherever we choose to in the area, don't pay capital gains on the sale as long as we keep the investment property within the rules of the Opportunity Zone guidelines, and get to both gain equity and slow down the timeclock on finding a new property.