Roadmap to Growth Starting with VA Loans

[Chris Kay]

Hello, I'm looking to start investing in rental properties in the Upper Peninsula of Michigan in Marquette County beginning with house hacking multifamily homes using the VA loan. I've used the rental calculator enough now where I think I can find a few 2-4 unit properties that can cash flow at least $100 a unit even with zero down, though the pickings be slim at any given time. I have VA disability to waive the funding fee and don't pay property taxes for the property I'm residing in.

I've used the VA loan 3 times before so I'm pretty comfortable with it, but only for single family homes. I'm currently using about $120k of the $805k entitlement for 2025, so my plan is to purchase an MFH soon and move into one of the units while my parents become the tenants to my current home. I then plan to do this again or maybe 2 more times depending on the ability to stay under the VA entitlement cap.

But that's all I'm currently smart enough to plan. Obviously it's a start but I don't think I can cash flow more than a few hundred dollars per property with zero down so what do I do next to keep growing my portfolio? I should mention my dad is a disabled vet as well and is maybe interested in growing a portfolio too so we could team up. I don't personally have tens of thousands in cash on hand for larger down payments (I do though in my TSP/401k), but my dad will have maybe a couple hundred thousand after the sale of his house soon. I'm not sure his willingness to part with that cash though unless I can make a convincing argument to invest.

Any help would greatly be appreciated in seeing the bigger picture roadmap here for how to turn this small MFH house hacking into something far greater. Thanks!