They are great deals in markets like this, but if you get in a bad neighborhood, you can loose a lot. 

As a company we are considering a third party that offers virtual/face time walk thru's where human engagement occurs from the first phone call, until 11pm, weekends, holidays included- where the prospective tenant is loosely (virtually) tethered all the way through showings, feedback, follow ups and ultimately application process.

Which would mean you loose money of the borrower immediately pays off, so not good at all.

Even though we have good LL-T statutes in place in Florida, some judges play loose with them.

That indicates it's mounted loosely, or maybe at a bad angle.

And to any wondering, no, I don't loose a wink of sleep over using legal tax strategies. yes, I think those who can utilize it have earned it and don't owe a thing to anyone else.

Loose deck board or stair etc.

You are worried about loosing someone else's money in your post. 

If it's empty one month you loose a whole year of positive cash flow.  

Norfolk is pretty loose on regulations, but fewer areas are desirable, and Virginia Beach has very specific locations that can be STR (Sandbridge and The Resort District).