If you have a service related disability of 10% or more you will be exempt from the VA funding fee. 

@Joshua D. nailed it in my opinion.Frugality is all relative.

How would you build that into a agreements or is that just the relational aspect and due diligence on the sellers part?

And if you add in other major mechanical things...it might run up to $10k...also on the lower rent range you will need to have a higher percentage because while a roof's cost will vary by the size and class of the property...things like heat and air and water heater and appliances are relatively fixed therefore being a larger percentage of your rent.

I am relatively new to real estate investing with 4 single family rentals in the Des Moines Polk County area.

Depends on what kind of property you need managed and where it is in relation to UGA.

Or maybe it'll add slight value since it'll allow for a great parking situation for the main property/units instead of being street parking (on a relatively busy street).They're asking $39,900 for it.

Related question.  

I also owe about 20k in non-mortgage related debt. 

So, electronic submissions can be relatively quick.