Wanted to share that BiggerPockets is launching a pro-exclusive 12 week Rookie Bootcamp in late August, with Ashley Kehr leading the way.

@Daniel Guest'passive activity' and 'trade or business' aren't mutually exclusive when discussing both items.You can have both a trade or business that is either active or passive.If you have a trade or business and your income is positive, you might be eligible for 199A qualified business income deduction.However, most rentals don't operate at positive taxable income because of depreciations.

There are things like airdna but they've not become widely accepted in the industry. 

I would focus on finding a market and begin by finding a realtor/broker or a reputable GC.  9 times out of 10 they know or have worked with other people in the industry.  

Can anyone direct me to either manufacturers in the Virginia area, or an industry association where I could located manufacturers/dealers?

For longterm rentals, some things to know are, how to calculate affordability of an area (a function of median income, interest rate, median home price), look at migration patterns (are people moving into or out of an area, what are the trends), business climate (are businesses moving to the area or out, what type of industries, income level, etc), rental amounts,  that's all I can think of at the moment.I wish I would've known more about evaluating markets when I bought my first few properties. 2 of the first rentals I bought, went absolutely no where when I finally sold them about 17 years after I bought them.

Because of this treatment in the CARES act, the multifamily industry weathered the worst of the pandemic.History tells us that during recessions, multifamily housing production contracts moderately, rent declines are short lived, and vacancies only increase briefly and by modest amounts.

Wanted to share that BiggerPockets is launching a pro-exclusive 12 week Rookie Bootcamp in late August, with Ashley Kehr leading the way.

I would have to pay little capital gains on the sale considering I'm married and fit all the other $500k exclusion parameters. 

I'm happy to make a new industry friend!