I am not sure about Newport News but in my market, you'll need 5-10% of the purchase price to get the deal in contract.Without a contract or a Real Estate license in VA, it could be a waste of your time to go out looking for a buyer.

The rest is outlook.  

@David NunnWhat is the appreciation outlook? 

Any outlook on the future of that area?

While multi family and new built luxury high rises might be going down it does not appear to affect more desirable properties that offer more space, amenities, better locations.I am in South East in a desirable area.What is your take on rental outlook?

So I appreciate you calling their BS out. Look

I also feel like after renovation of these properties the 20 year outlook would be much more solidified.     

if you care with capital preservation only invest in syndication that has 10 year outlook including the financing aspect. 5 years is too volatile.

In addition, the deals will be based on long-term rental outlook, but we are going to see how a mid-term rental strategy pans out for the higher cash flow in the short term.

May change your outlook and reeling in with buzzwords rather than the facts surrounding the transactions .