With bank owned you get what you get and can't throw a fit;) If you can, and I'm doubtful of the due diligence allowance on an online auction that isn't HUD, get a good real estate attorney to look at all the contracts.  

@Vu TrinhThe system for buying out of state rental property varies from one investor to the next, so there’s no one-size-fits-all formula to follow.However, while even though goals and investment strategies are different, there are some general guidelines to consider before investing in rentals that are out of your home state:Look for markets with vibrant economies, strong population and job growth, and low unemployment ratesUse the free rental property analyzer in this article to forecast the potential return of a property.

If you need 50,000 exports, then the Professional Plan would be a better fit.

Definitely take advantage of having two W2 incomes right now to buy properties and be sure to each use your VA loans once or multiple times if it fits with your goals.Just know that if you are serious about building a real estate portfolio, you will eventually get to the point where you can separate from the Military if you choose and go full-time in real estate.

For us it's been fitness (gym/bicycling), hobbies, and travel because we're pitching pennies on rehabs. 

Perfect fit for me would be 2bed/1bath on each level.  

From there, start to figure out which markets caters best to that strategy, what your entry costs are going to be and what markets you can afford, and narrow it down that way.Once that's done, I'd then get connected with a local Realtor in that market to identify what areas/neighborhoods would best fit your needs.  

Pick a strategy that fits with your time and financial situation.

Others see the long term benefits of student housing or long term rentals that there is a strong demand for and continue to appreciate.I would just soak up some education and see what fits in your wheelhouse of understanding how they work (STR, LTR, flipping, notes, PML or whatever!)

From what I can tell the long turnaround money (rentals) is a much better fit for me than the short turnaround.