If you wanted equity growth buying in a new subdivision for phase zero where dirt lots are just being built with little to no houses tends to have the best pricing.

TK investors generally only buy out of state because price points and rents are not inline to cash flow where they live.Hopefully that property in Memphis produces money for you soon instead of being no cash flow, high headache from afar, and dead equity from the down payment not generating a return each month.  

If you have enough equity you can just refinance it out of the VA loan to a conventional loan.  

In order to protect your position, you would want to record that MLO - won't you?

Regarding your comment about "owning a park", I absolutely agree it isn't easy and far too many people get into an ownership position thinking it is.

Please bare with me on this one.I own a property with a mortgage of $360k and 900k equity.

What are our options at this time with nothing coming close to positive cash flow in NJ?

I want to help him with the down with an established no interest (except for the cost of extracting equity from a property) repayment schedule.Just looking into this, haven't spoke to an attorney or accountant yet.

We don't want to throw money down the toilet for the next year on over priced rent (Nashville area) when we could purchase a home that needs some rehab help and build equity as we live there by fixing it up and that we can eventually use as a rental property after a year or so.

Takes some time for sure, and if you're going to door knock than it takes a certain amount of chutzpah too,  but takes very little money and if you get someone motivated to sell (with equity)...you'll find a buyer for the property.