So I’ve got roughly 68k equity on each duplex. 2- 125k-130k based on recent comps in last 6 months and condition of my units. 3- I forecasted my cash flow for 2021 to be roughly $180 per door for the 4 units.

Our condo is in servicable condition but do need painting, and new floor, light fixture and AC would be nice which would give us higher nightly rates.

Condition of property has to meet health and safety code and you have to legally remove whoever is living there.

Depending on the condition of the contents, I would opt for packing up pictures and other potential valuable items and storing them.I would also look to store the better furniture to sell or re-purpose if not claimed.

They had some qualifying conditions such as new owners needed to have property management and subsidized tenants experience.

This large 3/2 home with a large bonus room is nearly 100 years old, but it is still in good condition, and has been updated with new HVAC, insulation, electrical (installed by previous owner), flooring and paint, windows, and kitchen backsplash + counters.

VA can take longer with appraisals and be more restrictive with conditions of the house vs cash or conventional.   

They had the move in report from the beginning, so it was not like they were unaware of the move in condition. 

If you can get close to that with a good PM then it’s a winner.Keep in mind that same $170k could probably get you a 4/4 or greater if you wanted to do a 15% investment loan that should gross well over $100k (if market conditions stay the same).

This said, like Scott, these can be an opportunity IF the relevant conditions are met.