With SFH - in Blacksburg or elsewhere - you can better control that by doing value adds that tenants will actually pay for.

I believe there are better choices for cashflow than that area- particularly when you’re putting so little down- given the extreme competition there and also given the limitations/ control over you.  

I am seeing on a couple of rental property forums people offering their entire Arbitrage portfolio including all furnishings and furniture for free in exchange of taking over their portfolio. and of course the next batch a greater fools are all excited and want in. there is talk of 18 months until we might have this under control and people can travel again.

.#3 - Decision making and control - Are they a direct lender and make all funding decisions or do they have to go to a committee, sell your loan to an investor, etc.#4 - Integrity - personally and funds - what is there reputation, do they say what they do and do what they say?

My mentor has over 300 multi units in his control, raised millions of dollars, and close to a decade of investing experience. 

However, I didn't read this sentence (or at least had a different understanding of what it meant, if I did) "the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC".  

Drive up or controlled climate?'

I feel the two biggest factors would probably be rent control and eviction process.

Forgot to mention that you should check laws to see if rent control laws apply to your property. 

generally speaking this would need to be done with either seller financing with release clauses or all cash .Major issues are going to be zoning and what can be done.. target props you like get feedback then go to the city or county whoever is the controlling agency and ask to talk to a planner this can usually be done over the counter will give you a quick look at what can and cannot be done.