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.

Live in new home while it appreciates for 10 years until I get a faculty housing spot, sell private market house, put proceeds (minus downpayment) in bank for retirement (I estimate this will be 1.3 mil before capital gains and real estate fees based on 7% growth in a very desirable Southern California location), and take out new loan for lower cost faculty housing.

A house advertised in March may be worth $2,000/month but only be worth $1,200/month in July.I understand your desire to not have any interaction.

@Kevin Orellana do you like the asset; is it in a neighborhood that you are proud to own it, do you see it continuing to be a desirable place to live?