It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one major expense and three months of vacancy.

Having a VA loan will be a big win but as Hamp mentioned you want to know your exit strategy so if the current Multi Family market is not good SFH's are always a quality option and understanding the areas and the appreciating neighborhoods you can put yourself in a quality position.In terms of quality of the house definitely play it a bit safe to start especially since you will need to live in the property.

Recommended replacement of water line to the house -water damage found in part of the ceiling with thermal imaging -windows lower quality old single panel, recommended budget for replacement in near future and quite a few more smaller issues.

Need something smart and cost saving here, yet good quality.

Hope everyone's Thanksgiving holiday was well and you spent some quality time with your families!

But not a lot of good quality.  

He said the amount I’d have to pay for furnishing and getting it up to STR quality would set me back even farther, and then the extra expenses I’d pay each month would offset it and I’d be in the same boat. 

That's awesome, a 24-unit could be a game changer for passive income.I can send you a due diligence checklist our team put together for multifamily and that might be really helpful for you (if anyone else is interested, I am happy to share with anyone who would like to see it).Here are good documents to gather / steps to complete during the due diligence process:- Appraisals- As-built construction documents (see what the build quality is and set up for electrical, HVAC, etc)- Easements- Encumbrances- Environmental reports and related correspondence- Government notices- Leases (with rent roll to verify)- Photographs - insist on looking at EVERY unit, otherwise you'll only see the ones the seller wants you to see- Previous site plans- Property surveys- Recent tax bills (can call the county to ask for an estimate on tax bills after sale)- Soil reports- Title reports, commitments, and policies- Zoning documents- Any other legal documents of significance that the seller has

Are their listings detailed with good quality photos?

Have a list of provider- contractors/lenders etc that are quality that you can refer.