The VA loan assumption can be done by a non-va buyer, as long as that person selling does not use their VA loan benefits on their next purchase.

I was told, just today in fact, by the VP of Lending that they have a new product that is in the process of being released for long term rental financing as well as the HML lending they do now. 

I started with the BRRRR method for long term rentals.

The First is in Crestview FL with a long-term military tenant.

Depending on how long the renovations will take and what is being done, your agent may be able to get a company to write it.  

Agree the idea that one can live off of rental income long term is nice but not too common.to me passive income is a place holder to allow you to control the property while is goes up in value over time and once that happens then decide if its a keep or roll into something else.So to me  you either make transactional income in the RE bizz while you grow your passive portfolio or you keep your chosen career while you grow your passive portfolio.The idea that Hey I get to 10k a month and I am quitting and will live the rest of my life on this money to me is not a long term strategy that will play out.. 

Here's a PARTIAL list:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Payroll & payroll taxesBusiness income tax preparation and paymentsLabor: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why taking so long, and more & more & more...

I don't think I qualify for any conventional or FHA loans as I don't have long enough income history.

Figuring things out as you go can be hard, but it's cool that you're already getting bookings and have a long-term rental set up.This community is perfect for learning and getting advice for your future plans.

Long story short, we've been renting out our Alexandria, VA condo since last March and our latest tenant just moved out.