The opposite also holds true.As a REI, trying to judge if an area is a good area to buy as a rental, is and always will be based on the ability to CF. 

I recently dropped a property from my mgmt company that had so much potential but didn't hit that target due to owner not being willing to update and decorate the property to our recommendations. 

Lastly ,  Based on my experience . if you are hitting up 100 pips and maybe contacting 50 or 30 , maybe the approach and sales skills might need to be tune out..     

I heard that the greater than 1 year holding is based on how long my parents held it, not based on how long I held it.

If the base zoning is RSA5, single family is the allowed use & lot area is not relevant. 

Ideally you have some sort of base to work with. 

Setting up a US based entity is your first step, you are already doing that it seems. 

Based on your self-description  I assumed you were an investor, and I corrected the information you posted.

I know he has been looking for some networking in Richmond.We have a Chicago-based GC-tech (general contracting technology) company but expanding into Richmond.

You should definitely ask what he/she meant and if it's a suggestion or requirement based on the amount of properties.