Unfortunately I do not get paid for this work, I can not charge it against their security deposit. 

If you're bringing in investors, be sure to break out their projected return from yours, and of course do the deal in a securities compliant manner.

Basic summary, I'm securing an off-market deal on a SFH that has a 10+ year tenant (on a month-to-month lease) who is paying well under market rent. 

investors that just got in the game post 2009  were spoiled in thinking that everything had to cash flow with minimum down and cash flow positive a lot.. when in reality in a strong market with good demand safe secure properties  minimum down break even is a great out come and many times a little bit negative while you wait for rents to inch up. .you make your money in appreciation and tax write offs and your tenant paying your mortgage for you.. 

Security         $?????????

My credit history is not great (missed couple of payments few years back) and I am having tough time securing a loan (borrowing close to million dollars).

The backbone to investing is security and you build security of your own entity by clearing up your finances and presenting a strong product to use the great benefits of the VA loan.

The bank knowing this, I'm sure they will be asking to secure an employment first and that brings me to my next question. 

This house's basement was flooded to the ceiling, submerging the oil burning furnace, heating oil tank, security system panel, electrical panel, and water heater. 

Her Concerns:Current home location, cannot re-create for the price point we got into this house, $250KToo much debt to get started (target purchase price above), she suggested partners, and I agreedDoes not want to sell the rental property and put all the money into a new investmentBottom Line-I needs advice as to the best way to posture our family to move into a multi-unit property that will give better security in our current markets environment.