@Anthony Catoni
Awesome to see you've really thought through your options and have done the research. I'm was in a very similar situation a few months ago (Military, PCS orders dropped in July to report in October, Real Estate bug, wanted to house hack a triplex or quad, and about $20k in cash reserves). So I'll share some of my thoughts and experiences for what they are worth.
1. It was hard to find a home that both had potential sweat equity but also would qualify for a VA loan. I learned that most "as-is" properties wouldn't work.
2. Multifamily properties were either overpriced duplexes in nice neighborhoods (Rosewood or Cottontown) or dumpy properties in bad neighborhoods or college areas (Olympia).
3. Ultimately I ended up separating the house I wanted to live in from the real estate investment properties I wanted to do.
4. This led me to a new strategy. I bought a moderately priced home that had a lower mortgage than my rent would have been anyways. Expect to use 3-5K of your reserves just for closing costs. After a few months I found someone (military Buddy) to rent out the extra room with its own private bathroom which covers the mortgage (not taxes and insurance). And I will either rent it out or Airbnb it once I PCS as my long term strategy.
5. During the home search process I made good connections with investor friendly real estate agents and I told my family and friends back home (I'm from out of state) who invest in real estate about the great opportunities here and then connected them with the right agents. I was able to be a 10% partner in a deal with my out of State older brother in a flip he decided to do. Basically my 10% was a finders fee/project manager, he had a contractor do the work, I just ensured the work stayed on track with what he wanted. I won't make a ton from this deal but the experience just being a part of it has been monumental.
6. I've kept my eye on the MLS for underpriced properties and I've tried to get on Wholesalers lists or facebook pages. I figured if I found a good deal, I could find a partner that wanted it. After a few months of that I recently found something and I'm working on a 50/50 deal with my brother for a flip. He has the cash reserves to do his half and I'm using a hard money loan for mine. Terms aren't great but the deal has enough profit to justify the interest payments.
7. I'm halfway through the BRRRR Book from Bigger Pockets and it emphasizes repeatedly that the BRRRR strategy is best done with enough cash reserves to cover your purchase price and rehab so you can cash out refinance and keep that money going (velocity if money). The exception to this would be partner with someone, private lenders, or hard money loans.
I hope some of this helps, if not sorry for the ramblings. Feel free to reach out and ask follow up questions either on this post or in a PM.
