At a 80/20 ratio of equity the property would have to appraise for approx $405K, but thought VA loans could be cash-out at 100% LTV.Is this valid, should I keep searching different brokers or will they all tell me the same thing?

It allows you to claim the rental income at a lower taxation level and also validates your tax position of being a "full-time real estate professional."

The validity of this agreement, the construction and enforcement of its terms, and the interpretation of the rights and duties of the parties shall be governed by the laws of the State of Florida, without regard to conflict of law principles.

Is email a valid form of notice?

I was told to avoid the following zip codes in KC area: 64124, 64127, 64128, 64130, 64131, 64132 - Would be interested to hear from the boots on the ground if there's any validity to this? 

Why do you think appraisals aren't valid after so many months?

xxDownsideBase CaseUpsideProperty Pricex415000415000415000TypexMFMFMFNumber of unitsx444Price Per Unitx$103,750.00$103,750.00$103,750.001% Rulex$4,150.00$4,150.00$4,150.001.5% Rulex$6,225.00$6,225.00$6,225.00AssumptionxxDown Payment %5%10%20%xYear303030xRate6%5%5%xPMI1.00%1.00%0.00%xxxxxIncome Per MonthRental Income$5,300.00$5,300.00$5,300.00xLaundry$150.00$150.00$150.00xStorage$0.00$0.00$0.00xMisc$0.00$0.00$0.00xTotal$5,450.00$5,450.00$5,450.00xxxxxExpenses Per MonthTax$604.25$604.25$604.25xInsurance$125.00$125.00$125.00xUtilitiesx Electric$41.67$41.67$41.67x Water$0.00$0.00$0.00x Sewer$0.00$0.00$0.00x Garbage$0.00$0.00$0.00x Gas$0.00$0.00$0.00xHOA$0.00$0.00$0.00xLawn/Snow$31.25$31.25$31.25xVacancy$265.00$265.00$265.00xRepairs$400.00$400.00$400.00xCapEx$400.00$400.00$400.00xProperty ManagementxMortgage$2,588.00$2,479.00$2,112.00xPMI$25.88$24.79$0.00xTotal$4,481.05$4,370.96$3,979.17xxxxxCash Flow Per MonthTotal$968.95$1,079.04$1,470.83Per Unit$242.24$269.76$367.71xxxxxInitial InvestmentsDown Payment$20,750.00$41,500.00$83,000.00xClosing Cost$10,000.00$10,000.00$10,000.00xRehab Budget$7,500.00$7,500.00$7,500.00xTotal$38,250.00$59,000.00$100,500.00

The monthly fees were low, but they couldn't pay for things such as common utilities, gas and electric, and were threatened with a shutoff.

One our single family home tenants (two late 30s woman as roommates) are fine during past year: never late pay although lots maintenance requirements, such as gas log stopped to work from their cat hair, and their door knobs are very easy to loose. 

People going to get food, gas, entertainment before they pay that 500....