I know this is an older post, but are any of you interested in meeting up in person and getting something going? 

I would speak to lawyer and let them review the agreement maybe can do a class action and sue personally the managers if fraud.

I believe Alexandria city allows it but portions of Fairfax county do not allow it. i would go option 1 personally. 

I don't know a single person affected by tornado in Dallas while we have had them and I have seen the destruction.   

You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

I've seen landlords live in blissful ignorance for 5-10 years due to dumb luck, then their world comes crashing down and they lose everything.I have a book, there are some in the BP bookstore, or you can check out one of my personal favorites, Every Landlord's Legal Guide by NOLO.

I personally don't like getting a lot of automated messages when I rent a STR, I'd rather have some more personal contact.....

With that said, I have personally seen a lot of activity in the last two weeks.

And you can't legally dictate how much they carry for personal belongings. 

While cash flow may be harder to achieve here, these markets often shine in their ability to withstand market downturns and provide solid appreciation over time.The key in markets like this is understanding your goals.