Found it through a broker on the market.

It’s a 3-bedroom, 2-bathroom unit that I’ve been living in for the past two years.

It isn't easy to make things pencil, and I don't see it getting much better over the next 12 months.I have changed my rental strategy to Co-Living (rent by the room).

If so, be sure to find the appropriate forum category and ask away.

@Kasey Hardt very interesting,  didn't realize this was a pattern but even I've got friends that are getting recruited to the area for medical device startups etc, so could be a very interesting trend to watch.

have it go to a month to month for next sixty days then renew the lease at the higher term after that. 

If they are not paying rent then go through the eviction process as normal.

I would stay long enough for the 2 years so you quaify nothing is going to happen in the next year or so.. that tax free money is the best thing we have going in the US in my mind. then U could buy some very safe first trust deeds and make 4 to 6K a month NET NET NET without any of the TTTs..

I had a similar strategy with my first few house hacks: buy in great A & B Chicago neighborhoods....get by with minimum cash flow, and wait...What's your plan for the next purchase Michael?

Norfolk is where the majority of multifamily inventory is located, Virginia beach is zoned much more single family.