Once I figure out most of question 5, I will know if I am able to possibly execute the buy and hold until the units come online.  

I'm just stuck trying to figure out what's the best move to start out with.

Definitely talk with a lender to figure out how to take advantage of your VA benefits. 

Will appreciate experienced BP'ers to chime in on this and suggest how you have done rough estimates of the timeline and what time a job like this would have taken you to finish.

Unless the expenses are way too low - like 25-30% expense ratio which I’ve seen, then I’ll use roughly 50%.

I’m here to ask the experts which route I should take, if any.Basic details about me: I’m 34, recently married and no kids but planning to within the next 2 years(this detail is just for you to know that I don’t have much restrictions on moving aside from commuting)I currently own a coop in Yonkers, NY with roughly 50k in equityI am willing to invest in the tristate area but if I have to live in the property I have to limit my distance to Bronx, Westchester and Connecticut.I also have enough saved to buy a 275k property with 20% down or the max allowed with an FHA loan (this is without having to sell my coop)I have excellent credit which will qualify me for loan without an issueThe way I see it I have 3 options in order to get started: Sell my current coop, buy a triplex in a worst neighborhood with more TLC needed, and move to into the property for at least 2 years to qualify for an FHA loan.

Just a rough estimate

I think the first thing you need to do is to figure out what your goals are.

Other then that it works as a cashflowing property.....How did you figure that out?

Do you have any rough time frame estimate you can share on when the kinks will be worked out?