We have a combined yearly income of around 150000 and current housing expense is 8500, no other debt payments.Below a summary of the numbers:Our financial situation:- paid off home: 340000- property tax+insurance: 8300- Income: 150000- No other debt- 30000 in cash (not emergency fund), but would rather leave this invested in stocksRental properties:- Price: 140000- Repair: 20000- Value after repair: 170000- property tax + insurance: 7500- cash flow positive in year oneSome financing estimates I received:- HELOC: 289000 max @ 3.68%- Home equity loan (30Y): 289000 max @ 2.99%, closing costs 8257 - Equity loan 15y (non mortgage style) 289000 @ 3.99% fixed 240$ setup cost- Mortgage 20% down 30y: 3.99%I realize this is not a short and direct question, but I'm hoping that one of you experts could give me some guidance and advice. 

I’m looking to take advantage of the VA loan for our next PCS/move and combine it with house hacking.

I am currently purchasing a 6 unit complex in the heart of Tempe near the ASU campus. 4 of the units are 2/1's with the other 2 being 1/1's I'm thinking on combining the 2, 1 bedrooms unit ( the are right next to each other) and adding an additional bedroom thus creating a 3/2 which will bring in an addition 9k yearly in revenue if we kept the units as is.

They eventually also want to buy their 1st primary residence down the line using the first time FHA home buyer programs.The girlfriend wants to use her credit to buy their 1st investment property.The boyfriend wants to use his credit to buy their 2nd investment property.Down the line, they both want to use their combined credit to purchase their 1st primary residence using FHA loan.In this scenario, can they use conventional financing for investment properties, and still have the option to use first time home buyer FHA loan down the line ? 

What is a realistic estimated annual amount to budget for marketing if I plan on a combination of Direct Mail, email blasts, SMS, lawn/hanger signage, Website and SEO? 

As mentioned above, it might be possible but I assure you it's not worth it.Basement excavations are sometimes done here in DC, which has very high prices and very strict height limits -- a combination I wouldn't wish upon anywhere else. 

Depending on the overall cost yu might be OK to have a combined appraisal of the main house and the edition and I always strongly recommend to be onsite when the appraiser visits.

I am calling it 'vacancy/delinquency' and giving it a combined 20% for anything I'm underwriting and thinking about buying at least for now.

Where I am stuck is would it be better to obtain a mortgage on the rentals for tax reduction on the rent cash flow, refinance our home and use cash out to purchase properties outright, use our HELOC(100k available, 3.25% rate), or some combination of all options. 

I have read and seen others saying that the 2% rule when purchasing a buy and hold rental is too good to be true and is to be avoided.I have recently seen a few places on wholesale websites that are well over 1% and some at 1.5 - 2%.One of interest to me was a duplex listed for $64,900 and has tenants in it paying a combined $1150.Although it doesn't show all pictures inside and out (exterior pictures aren't deterring to me) its obviously got some deferred maintenance I'm sure there should be extra CapEx to be budgeted for.If rentometer verifys the rent is in the ballpark and its not falling down.... what am I missing?