We personally would save up the extra income from the tax free, and add in any hazardous duty pay, family separation pay, hostile fire...whatever...and then use the 10% military combat savings program. 

You are going to want to re-key the front door and the room door every time a tenant moves because who knows how many copies of you house key they made for extras for friends ETC.

Just gotta factor in some extra lost rent when planning cash.  

Just not worth it south the extra cash flow.

I walked the outside of the outdated property and snapped some pics, rolled some numbers in my head around:Mid-range ARV around 400knew doors and windows throughout, 15k including entries for good stuff (I know that's high, better to err on the side of caution)fresh paint in/out at $5 per sf for good stuff, call it 9kflooring throughout, 6.2k at $3.50 a sf2 bathrooms, 15k kitchen 20k including appliancesso about 55-60, plus some extra for unforseen and pool, so 65-70k, leaving me an offer of 200-230ishI'm sitting in this driveway for a solid 45 minutes taking notes, running numbers, pulling title info & last sale price/date (Chicago Title mobile app), etc.  

Start with the appraiser, not the bank.Find an appraiser that can do it, likely charging some extra fee.Ask which and lenders he often submits reports to.

(I'd do it for free but hey an extra $5k won't hurt.) 

If you want to talk about CA bashing just come up to the rain forest ( Portland Oregon) there are riders on Real Estate for sale signs that say  NO CALIFORNIANS and that is the truth.. the died in the wool Orygonian thinks that in migration from CA has ruined the state

Since I was in Texas and planned on staying there I found out that I was qualified to take a real estate broker test without having to take anything extra so I got the license.  

Most people who own there bought years and years ago, and the people buying now, research suggests are using OPM to borrow for down payments mainly parents, or selling and moving up.Most people are NOT investors, when they get a raise they say: We have an extra 1000/m coming in, that means we can afford a bigger house new car etc.I think personal finance is important, but if everyone knew how to maximize there $, I can imagine there would be a lot less left on the table for us.