This is backwards, since women tend to be physically smaller and thus more vulnerable to attack, and are the overwhelming target of sexual assault. 

Because if he makes this loan with no desire to buy the building he doesn’t deserve to lose his money but he should expect to.

I'm contemplating this decision because I'm not sure if it would be desirable for tenants to have an extra room instead just a loft area.

You can hire a landman to research if you desire. 

Commercial MF decline is already impacting, in my market, non-commercial MF.  5) not everyone has the ability, desire and/or time for active investments. 6) syndications provide easy means to diversify   This includes geographical, asset class, and value add.  

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).

Most are in less desirable neighborhoods / are less updated, but some are on par if not better.

But, I would still look into STR management or seeing if MTR can fit your desired lifestyle.

I added value to the deal by completing mid-level renovations that enhanced the property’s functionality and appeal, making it a desirable rental option in the area.

I will add that buying in the path of progress helps...desirable areas in growing cities adjacant to the areas that have already taken off.