That's less than a 0.03% chance of audit compared to the average 1-3% chance of audit. 

You have added value.Before moving out (when still owner occupied) I would refinance it using traditional loan (not the VA loan). 

There is a lot of discussion about wholesaling, rent to own, and other non traditional investing methods 

I want to compare the architecture/quality/style of renovations and builds here in CA vs NJ.

Will give a call for your insurance company and compare the coverage and cost.

If there are comparable properties at $2,500, $2,100, and $2,000 then we might choose $2,300 or $2,200. 

My copy would be a lot different speaking to another company compared to speaking to a regular consumer who looking for a service.

I would be all in for 1.42 mil give or take and he would be in for about 2.1ish mil with expected appraisal of about 3.6-4 mil from comparable businesses.Expected monthly income of about 40k with 15-17k for the note and would do a 60-40 split on the remainder.

Your finishes (due to ARV) will influence directly your cost, so the full gut price in upcoming areas will be lower if compared to a similar place located in a more "established" neighborhood. 2.

You will need some history of stabilized cash flow to get the best rates from a traditional lender.