People think it's inexpensive to install a Washer & Dryer, but getting the gas, electrical, water, and drain/vent there is usually quite expensive.Here in Chicago, we always want to be at the top of the market regardless of the competition, so we almost always install a W/D when we renovate our properties, even in some of the less desirable neighborhoods.

I just put two long-term rental properties on the market that we rehabbed in desirable area of West End Boise and demand is a little lower than expected.

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.

You can hire a landman to research if you desire. 

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.

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

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.