@Michael Jenkins as long as the area is not saturated, great investment in my opinion, high up front cost, but great.

VA loans are the best loans on the planet in my opinion. 

If you have not already done so, begin with the Ultimate Beginners Guide under the "Education" tab above and then select the "Guides" flyout.

You’re on the right track by educating yourself and not rushing into anything.

I'm pretty sure there is no "set protocol" dictating such details.....maybe someone's opinion, but we know what that's worth.

So far I've self educated from literature, BiggerPockets forum of other newbies, and some friends and Facebook, but I'd love to see if there is possibly a way to branch out and BiggerPockets definitely has way more access to all the pros.

I would like to get your opinion on how to structure our specific scenario: we plan to purchase property with cash (using private $), my fiancé will live in it during the flip (~ 8 mos), then we would like to keep the property as a rental, but pull as much cash out as possible to pay her Dad back including his profit.

Was hoping to draw on the collective knowledge of bigger pockets to get an opinion!

Right now I am focusing on trying to educate myself, while still looking to try and find a good deal.

I also don't really want to pay $3K (I saw one such course) for educational materials that may simply be available for free or may not even be that valuable.