Norfolk is a big city, neighborhood quality varies widely and cap rate varies along with it.

The majority of those "houses" were built as temporary military housing back in the 40's and are of very low quality construction.

We really don’t know enough to give any quality advice based on your post.

It’s nice that a decent existing tenant goes through the trouble to find the new tenant, and all you need to do is quality them, then make a simple lease addendum and you’re done!  

Needs cleaned up and you can put up barriers and use mortar to fix a lot of that water problem .

cosmetic face lift and cleaning What was the outcome?

If you view a tenants quality in broader terms then your decision is much more difficult.

Assume 1 month vacancy per 13 months (deduct 1 months expenses) Assume make ready costs of app $2,000 per 13 month period (paint, cleaning, carpets, etc..)$1200- is that for repairs, etc...

It is easier to control an SFH in regards to area, quality of tenant, and maintenance.

We cleaned out front landscaping bed, removed a fence by front sidewalk, added additional signage to increase visibility.