There was so much water that we had to use a pump and mini x to get to the shutoff.I am posting this because I want to add some extra emphasis on how important systems and good employees are to your success.I was in Hawaii over three thousand miles away and we were able to get this taken care of without me there and without help outside of our contacts. 

My main concern with NY is the heavy emphasis on tenant-friendly policies.

That should tell you enough but then, on top of that, they may receive an advertising fee, with an emphasis on the "may".

Also, your emphasis on cash flow in Norfolk for buy and hold makes perfect sense.

I enjoyed the emphasis on cash flow (I'm a cash flow guy) among other subjects discussed. 

I would just say that in the future, put more emphasis on sponsors and strategy.

Regardless of which home you buy, you will need to spend some money in upgrades and fun features to maximize rentals.One last note:  I would not put too much of emphasis on a PSF analysis. 

You likely make $200 an hour or more.I personally would not dabble in another activity(beng an agent) where you may not have any experience and start off making less than $20 an hour.Yes, good agents can make more but I am just trying to emphasis the change in your hourly rate.

You seem to be focused on cash flow based on the emphasis placed on the 10 Cap in your pos but you also describe the neighborhood as "shady" which I interpret to be a lower barrier/ at best "C" neighborhood.

To sum up, knowing what is needed for a loan, following local laws, and placing emphasis on being honest and transparent are crucial aspects in real estate deals.Good luck!