I'm an investor and agent in VB happy to talk through your strategies sometime.

I am a long-term single-family investor with properties in VB and Chesapeake, and as an Agent, I have helped several investors find properties. 

I think I might have started this thread a couple of years back and am in VB as well, so interested to see if its getting any footing.Sounds like some have had success with it, so I guess I gotta get back on the hunt for them. 

One fun fact to consider is that your first use of the VA loan does not come with the lending cap so if you did want to try and get a 4 unit on that first purchase you may be able to shoot a bit higher if you can qualify for the loan, which in VB may be your only avenue to multifamily without going toward the Norfolk area.

While I don’t live in Virginia anymore, I’m very familiar with VB and can recommend folks to talk to. 

I feel that VB is one of the most protected markets on the east coast (in the south) from hurricanes.

Depending on strategy I would rank them as followsFix and Flip: VB (I would focus on higher end Flips with bigger returns), Chesapeake (mixed but most opportunity for higher end Flips), Norfolk (lower end and older homes to me = more headaches), Suffolk, Newport News. 

FHA's site couldn't be less consumer-friendly but here is the proof you must scroll to Section V.(B

A really cool report by Apartment List showed VB has one of the fastest growing rent changes in the country at 3.9%. 

I’m not looking in NN or Hampton too much just because I’m not familiar with those cities but I have lived in Norfolk, VB, Portsmouth, and now Suffolk and they are all great cities with great opportunities.