there are company's that do the legal part for you it was very popular from 2000 to 2008 a web search will find them.

I went with MidlandIRA after looking at about 3 and made my decision on their customer service, fees as compared to others, web access.

Customer service (can you reach a person, how quickly?)

Custom cabinets and quartz counters, Viking appliances, hardwood floors throughout, iPad station, ceiling mounted speakers & stereo system throughout the house, yamaha outdoor speakers for the patio, all rooms were prewired for cable and internet, jacuzzi tub for the 2nd bath, venetian plaster in all bathrooms, and the list goes on...We set a record for sales price in the neighborhood which is always a good thing.Purchase Price: $488kRemodel Costs: $149k (Includes labor, materials, monthly expenses, etc...)Commission Costs: $18,725Sales Price: $749,000Profit: $93,275BEFORE PICSAFTER PICS

HINT: make sure your realtor is an investor, because we're a very different customer than an end users.

He's making 4% on a passive instrument and has given up the hassles of active ownership.Note  buying is a popular exercise because it's a passive way to still invest in real estate for the long term backed by a real estate asset.  

@Phil Reames makes a great and popular suggestion of answering questions with questions.

Connecting with these people will allow you to take the lessons learned, and strategies and ideas from each person and custom tailor a plan that works best for you.

I'm not sure about the Hampton Roads area, but have heard from some real state agents that areas such as Sandston and Highland Springs in Richmond seems to be  pretty popular buy and hold locations, but of course this is not advice, do your own due diligence on the area and home before buying.  

It's a very popular strategy in the area and we'd like to know what supply/demand looks like in the market.