It appears to be a good cash flowing deal but comps are nonexistent because it's grandfathered into a single family area and as such I couldn't get any buyers to see "the light" without a solid ARV.

If you used an FHA loan you may not have built up enough to borrow and buy another.I would run the numbers... can you pull out enough equity to have a down payment and have cash flow cover your refinanced mortgage?

Just have to make sure the properties would still cash flow with so little money initially toward principle.

I cash flow my properties and I am not concerned about equity growth.

Personally, I think the best thing you can do with a VA loan is to buy a 4 plex because if you play your numbers right (rental income vs. mortgage) you should be able to live rent-free at the very least and potentially cash flow right out of the gate.

Hoping to put in a new kitchen after a couple years of cash flow.

It'd cash flow about $300 month.

I have come to the conclusion that I will invest in rental properties for cash flow in order to own my time in the years to come.

Less cash flow all around. 

We can increase rent to match the area, but it is already cash flowing.