I emailed the local recorder's office here in Iowa some time back. The reply I got was that I could transfer the VT registration to an Iowa title, as long as the VT registration is current. Haven't tried the VT route yet, last time I used the Iowa bonded title approach. It worked, but had to have the bike assembled before the DOT would sign off on it. The surety bond from my insurance agent was $50, vs $100 for an on-line place.
Holubs