I do have the great benefit of using the VA loan however, where I am stationed now we are already renting a place.

It's our view that it is our job to make sure that we are doing everything that we can to set the buyer up for success at the beginning.Hope that helps,Chris Pre

I will be sharing about what we are doing right now in real estate, and we'll hear from everyone who comes about where they are at. 

Having it allows me to not only to buy, sell and pay myself but it helps us on our taxes since we are investors (ask your CPA about being a "real estate professional"), allows us to view homes when we want, I can lease property in my state and it allows me to be a property manager.

@Jacqueline Peterson Yes, we do have a termination clause, but I need to refresh on exactly which option we are using.

You might consider engaging an attorney to draft a "Mutual Agreement to Terminate Lease" or something to that effect that is valid in your state.A simple 1-2 page agreement outlining that 1) she has surrendered or abandoned the premises, 2) you have her permission to dispose of her personal property, 3) and you have her permission to liquidate her deposit for past due rent, can save you tons of potential legal headaches down the road, and would likely be far less expensive and time consuming than an eviction.Forget trying to collect on the remaining months of the existing lease.

So we are searching the MLS looking for distressed properties as we know the area well but this market is higher than any.

It is easy to comment when we are not seeing the full scope of everything though. 

(rents are increasing in the area, but we are heading into fall/winter where the tenant pool is lower) Assume that you would get pretty much all your money out on the refi.

We are located in New London county with properties mainly in Groton/New London/Norwich.