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

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).

@Jason Taliaferro so you know if that firm is now licensed in TX?

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

We did not agree to pay him that much and feel like he took advantage of us not getting the firm price on the front end.

We hired a law firm to take them on.I have heard from many people that the reviews of people stating that they good experiences are them and 100% fake. 

Might change it, might not.WA requires you to hold a brokers license and be under a managing broker for 3x years before you can have a firm yourself.

You seem extremely confident in your initial claims, take me up on it.Either way, I do appreciate the honest feed back on my posts from both of you, I understand that NY is one of the hardest markets to succeed in, but I am a firm believer in the Stockdale Paradox (Jim Collins, Good to Great).Best,-JonThis wasn't a back and forth.

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.