As far as being able to include the cost of the rehab and the amount that goes into your "upfront costs" for #1, I've seen people on here say they put the funds for the rehab in escrow and do draws, but I've seen other people say that the number that goes on the closing/HUD statement needs to be the amount already paid for the work (basically a receipt), suggesting you either do the work before closing (generally not possible) or pre-pay the contractor (terrible idea!)

I haven't run the background check yet, and will start pre-screening soon.

Things will work out and I will be back on my feet .

Given the massive military presence there, I would recommend making your initial focus on renting to other military if the BAH numbers work out for what you need.

I see people buying left and right - however when I "work out the numbers" considering income (rents) minus - mortgage, taxes, insurance, vacancy (5%), maintenance (5%), cap x (5%), and sometimes PMI the properties just do not cash flow and sometimes lose money every month. 

Forgot to mention i would be using VA loan so no money down necessary and I've already been pre approved for more than what an average multifamily would cost. 

I finally did my pre-licensing courses and passed the exams here in Las Vegas, Nevada.

They have owned both properties for over two years now and they manage it themselves.My friends and I began looking for an STR about two years ago and have sent out about 30 to 40 offers since (pre-COVID) and unfortunately we always got outbid.

Here is my plan: - Purchase a distressed SFH using a conventional loan (5% down)- Live in that property for 6-12 months while rehabbing it- Cash our refinance - Purchase another SFH as my new primary residence and plan to live there for 3-5 years- Rent out the initial SFH and cashflow a reasonable amount - Continue to save money from working + build equity in the initial SFH- Leverage a 1031 exchange to sell the initial SFH for a distressed multi-family property (using my own savings to supplement the down payment)- BRRRR that multi-family property and keep repeating from there Here are my questions:1) Would I be better off forgoing the two SFHs altogether, and continuing to rent an apartment until I have enough money saved up to buy a multi-family property as my first investment? 

If there is an investor FB group in your area, I would post that you are a first time homebuyer looking for a lender to pre-approve you for an FHA loan and ask if anyone has recommendations.