Of course most investments are not guaranteed, so that's a more risky, but possibly more rewarding way to go.Of course tax consequences exist too.  

.- Cost of work required based on current market rates (for example right now electrical work is very expensive in Charlotte metro compared to historical norms)- Are any code issues with the City of Charlotte or LUESA? 

compare numbers against....lol

There's more chance for reward but much higher risk.

Then comparing the risk profile of the two types of markets.Investors who buy into rapidly rising markets take on more inherent risk than those who buy into markets that are at the bottom of their cycle.

Cherry Hill West is still good compared to other places, but not quite as good as East.Not sure if that helps at all, but it's what I can contribute.

Do you spend all day obtaining comparative prices?

I think the retail spaces will bring in no less than $750 per month after they are renovated seeing how the shopping centers are getting 1500 and up for comparable spaces. 

VA loan has to be used for your main residence, and in General they only allow each individual to have one at a time, It is very comparable to the FHA loan.

We did move to Denver from DC though, so our 816 sqft duplex unit was palatial compared to the 500 soft studio we were living in in DC!