The other strategy is to reload your ace by refinancing out the VA with a conv or fha option (whichever is better for you at the time) so you can rinse and repeat.Doing this alone can be effective because you can use a lot of other peoples money or OPM to build wealth for your future but, if you combine it with a BRRRR strategy it can be highly effective.If your VA loan is currently tied up then there are options to utilize conventional financing or FHA too with low down depending on your situation, otherwise a strategy similar to the above.In Clark county, WA you can actually cashflow still after doing a BRRRR which is good news because this is not true in many high cost areas of seattle where the rent to value is too low (5k rents per month / 1.5M house or .33% RV ratio).

Let them know your fine either way.But you need an answer cuz your constantly reviewing opportunities and only have so much money to commit.IMO that’s what I would do if I were in your shoes

@Jeremy KrossSome of my clients are in your shoes and they still manage the same way as you know it is such a lot of work to even sort things out and of course it costs money. 

The only way you'd have CoC at or below your cap, would be to have 1.5x the 20% down payment tied up in the property (excess being closing costs, reserves and/or improvements). 

You need to provide everything else for them to enjoy their stay.Here's a short list of some of the things in my STRs:KegoratorSmart HDTVFirepitHorse shoe pitPellet gun with pellets and pigeon/starling baitBluRay player with adult movies

I work at a community bank that has ties in your market and your rates aren't too terrible from what I am seeing (on commercial loans, I have no clue what residential loans are going at) . 

I do however love the entrepreneurial aspect of real estate investing because my success is more tied to my ability to learn and apply effort.

Setting that aside, do people feel like there's a clear winner between the two: (1) FHA with 5-10% down, leaving us more free cash but a higher monthly pmt; or (2) putting 20-25% down with a conventional (or Investment) which would lower our monthly payment and avoid PMI, but tie up a lot more cash up front?

Their payment is directly tied to lowering your assessed value so interests are aligned.

I couldn't rely on having evenings free to do anything else.If I were in your shoes, I would look into notes, turnkey properties, syndications, and hard money lending, in addition to the rentals and flips you've considered already.