So it’s small and the layout doesn’t offer up the most functionality for the livable space.

Otherwise, you can look for a property that has an unfinished basement with the proper hookups that could allow you to put in a kitchenette, bathroom, etc.

Lack of underlying soil conditions like you see in Texas  IE foudations going wonky and requiring on going maintance that can be expensive.5. at that price point you get the best qualified renters not the bottom 1/2 of renter pool you get the top half.5. newer construction  Stucco tile roofs etc   compared to 40 to 100 year old homes in other markets that need greater care to keep functional. 6. ease of getting there direct flights to many places a lot of areas in the mid west you have to connect.. thats an issue at least for me.7. things to do.. 

I believe as long as the property pays for itself - which it would with the proper terms - then you can have two VA mortgages (depending on your qualifications).

A RE license is real-time access to vacant properties, showings, and the more important thing, the MLS so you can run real comps and proper ARV and know rent rolls that you may not have access to outside of the MLS on syndicated sites.

@Frank Chin makes a valid point of not being able to predict cashflow if the HOA is not run properly.

2 different issues….1) proper notice prior to the first of the month in order to be enforceable2) of course the tenant has to pay rent for the time they occupy the property, it’s a ridiculous question…..even for the 15 days if they move out early as They would have been required to give proper notice. 

If the property owner Properly contests the lien, the time to file suit by the contractor is reduced to 60 or 90 days. 

Speaking with a proper attorney on Monday to make sure things are going to be correct. 

That being said, that means the proper way to do this would be to get a commercial, i.e. non-residential loan, since a legal entity such as a LLC is not eligble for a conforming residential loan.