He's provided personal references -- my understanding is that those aren't that reliable (easy to spoof).  

Once you are seriously looking make sure you are pre approved and have a reliable real estate attorney standing by to draft up a contract!

North Miami or North Beach (Miami Beach Island), come to mind that have permits to do short term in determined zoning and other neighboring areas as well, point is... has so many loop holes in the laws, that one way or another the option for short term can be possible and within regulations.The most important points is there is always a niche of clients that you can work with and target in the real estate market and now the need for move-in ready homes for relocated professionals, graduate students and other reliable tenants are needing a place and have been unrecognized, or not paid attention because it is not the most to “lucrative way“, and that in my opinion is a myth.

hello BP,Does anyone know a Class A, general contractor in the Norfolk, Chesapeake, Virginia beach (Hampton Roads) area they would recommend for a rehab project? I'm looking to get a few bids on a SFR rehab in Norfolk...

If you're breaking even with rental income and have a steady, reliable tenant, I would probably wait it out to see how much more property values increase. 

As Greg said, be ready, all the investors I know (myself included) are looking for quality and reliable contractors.

He has reliable subs that he regularly work's with too.

Yea, I thought the rent income seemed high when I first saw the property but after looking at the history and talking to a reliable agent that seems to be accurate.

The principal can be in a secure, real asset, and produce reliable steady income.  

You need to know what the market will bear for that neighborhood ARV and what the tenant pool will be to understand if your tenants will be stable and reliable.