Value Add makes the deal even better.

@Bryan Schmidt It sounds like you will need a construction loan to fund the improvements even if the seller were to offer you a second position mortgage for 20-30% of the purchase price.

Typically its 80% of the total cost of the project or even 20% down of purchase price, funding 100% of your rehab.

My mom had a trust set up for her apartments to be split evenly amoung us kids. 

I've you've already used $315k, you have $451,550 left.https://www.veteransunited.com/education/tools/va-loan-limit...Even though $515k>$451k, You CAN still use your VA loan on this duplex (and I highly recommend it).

Sometimes members of the LLC will need credit checks even if they aren't on the loan. 

Hey Sras, even in a tough market, the right property in the right location can be successful.

In my area, they normally pay at the last minute, even the morning of the sale.Never seen a nice house with a big mortgage actually go thru with tax sale.Could happen.Who is the lender?

Hard Pass even if it is real.

Some variables conspire to trip you up Even if you know what you're doing.