So this is the time to do a refi due to the work being done with the appreciation, and also my rate going to be 1%-1.25% lower than it is now. 

GP doesn't charge any fees, 7% preferred return and 35% promote.For 5-7 year hold periods, I'm seeing target returns closer to 15-25% IRR and 1.6-2.2x equity multiple.It's more common for GPs to charge fees (acquisition, construction, management, etc.) and take a lower promote around 20-30%.

Top 7 do all the pulling(top .5%), the rest are lagging(lower 99.5%). 

Some New construction builders have great incentives lowering interest ratesWilling to be corrected, but I don't think you can use your VA loan for a strictly rental property. 

@Ben Capone I like your strategy to house hack and take advantage of our markets lower prices and great rent potential.

Stretching repayment over a half century lowers the monthly payment, improves DSCR performance, and can help investors qualify for deals in high-cost markets.

Start with your objective, not the property typeIf your main goal right now is to improve DTI, lower your housing payment, and build experience, a house hack usually wins.You get into the market with a low down payment, and your tenants help cover the mortgage while you learn the ropes.If your goal is cash flow + a scalable long-term rental model, small multifamily often performs better because the income is more predictable and vacancy impacts you less.2.

As Jackie mentioned, entry prices there are typically lower, but rental rates often hold steady with what you see in Jacksonville or Orange Park (just across the bridge).

Concessions can help, but only temporarily.Small incentives like “first month $100 off” or “$300 move-in credit” bring more traffic without permanently lowering rents.

You could bring less down and possibly have a lower interest rate since you will be living there.