My suspicion is that the seller won't have enough bandwidth left to get another VA loan even if this is the case.Does a formal assumption reset the entitlement amount?

@Lee Yoder Never heard 10-days before...we've always had to undergo formal eviction (even for squatters)...takes longer than 10-days.

@Sunny Karen- thanks ...nice sounding plan ....if you havent already done so - make sure to get yourselves  formally pre approved  with a lender  using a hypothetical  scenario ... depending on the loan amt needed ( if any) - make sure the lender you talk to can handle the amount . 

I feel in Seattle proper the SFR + MIL   will be  a  more  desirable  property   and  provide higher  appreciation  in the long term .....if you are in need of  financing for the new  property - make sure to get  formally pre approved  ( not pre  qualified ) for  both scenarios .......fyi - pricing will be  different for a  duplex  as  compared to a 2plex  and have  soem  different guidelines 

Not sure how it works in your state, or the state you'll end up in, but even with a lot of trades you'll need a two year degree unless you go to a formal trade school.

I am going to say this and when I do it is not purely out of self interest.Note Newbies need formal training. 

About 2 years into lending I had so many investors I needed to formalize the business and formed my first “fund”, whereby the investor were limited partners in a portfolio of hard money mortgage loans.  

This is why it is essential for buyers of apartment buildings to check the municipality where the property is located building records, even in instances where those records have to be requested formally and are not easily accessible over the internet.

It took some negotiations.20% DP7.5% I/O for 5 yrsZero prepaySeparation clauseProjected cash flow 19K/yr as is with conservative underwritingNOTE: seller wants a 1% seller finance fee... very cunning...Actual cash should be around 30K/yr since I operate my own team.I plan to enter into formal contracts in the next 48 hours and a week later, as a formality.

Follow up question:Is there a formal process for this?