The electronic and magnetic properties of transition metal dichalcogenides are known to be extremely sensitive to their structure. In this paper we study the effect of structure on the electronic and magnetic properties of mono- and bilayer VSe2 films grown using molecular beam epitaxy. VSe2 has recently attracted much attention due to reports of emergent ferromagnetism in the two-dimensional (2D) limit. To understand this compound, high-quality 1T and distorted 1T films were grown at temperatures of 200 °C and 450 °C, respectively, and studied using 4 K scanning tunneling microscopy and spectroscopy. The measured density of states and the charge density wave (CDW) patterns were compared to band structure and phonon dispersion calculations. Films in the 1T phase reveal different CDW patterns in the first layer compared to the second. Interestingly, we find the second layer of the 1T film shows a CDW pattern with 4a×4a periodicity which is the 2D version of the bulk CDW observed in this compound. Our phonon dispersion calculations confirm the presence of a soft phonon at the correct wave vector that leads to this CDW. In contrast, the first layer of distorted 1T phase films shows a strong stripe feature with varying periodicities, while the second layer displays no observable CDW pattern. Finally, we find that the monolayer 1T VSe2 film is weakly ferromagnetic, with ∼3.5 μB per unit similar to previous reports.