So I would focus on continuing to build / save money and if a deal comes along, then look to take advantage of it, but do not force things or manipulate #'s to make a deal look better than it is.

Also, if the sponsor is new, I am fine with less skin in the game as long as it is significant to their net worth.

Work out a payment plan, put it in on a credit card, but get the thing replaced! 

They also have a "reserve" fee in which they collect 10% of every credit card transaction and hold it for 90 days before releasing it back. 

We tried to get info on the lender to ask directly but they wouldn't give it to us.I would have thought this would be a relatively quick process to do a credit check, check debt to income, employer verification, etc.current loan's interest rate is very low so they definitely haven't refinanced anytime recently.Additionally, having never assumed a loan before, anything I should keep an eye out for that might cause a hiccup? 

The Theory is this:(Quoted from VA.org: Those who apply for a VA mortgage with another veteran (a VA “joint loan”) may be permitted extra units for business purposes, which means your multi-unit property could have more than four units.

Some downpayment programs have different requirements than others.  

You'll recoup that in less than a year and it is such a nice upgrade.....even smells better.

Sold for more than anticipated.

Its best to get used to it early rather than late.