Looking for options in terms of low down payment conventional renovation loans as opposed to the FHA 203K, so I don't have to refinance out at the end of the Reno.

Just my thought process as opposed to killing the deal outright.

I strongly recommend holding onto your cash (as opposed to using it as a down on your VA), it's not needed.

Sticking with a conventional loan is going to be a much better situation for you on owner-occupied, as opposed to a non-qm product, if you can figure out a way to make it work. 

We are leaning towards the "just bite the bullet and raise it to market rent" allowing for 3-4 months notice as opposed to trying to break the amount up in increments. 

I would say one thing I wish I did when I started out was thinking about WHY I wanted to get started investing in real estate, as opposed to just jump in and do whatever "everyone else was doing". 

I'm preparing for the appraisal, which is based on the property's ability to cash flow, as opposed to its overall value/purchase price.   

We are not opposed to continuing to save or waiting a couple of more years to purchase.

You want to be just under the market so that people look and offer on your house as opposed to the competitions listings.

@Eudith VacioI think you meant you did the Limited 203k, as opposed to the Streamline 203k, which was eliminated back in Sept 2015.