If you are more adventurous you can go north to Baltimore, and to southern PG county and hit the 2% rule or higher.Also you say you ignore appreciation...while I think that may be a good idea on the early properties, as you need that cash flow basis...appreciation is how you really build wealth.  

It seems that the value of a lot of the properties up there are not necessarily based on comps but how much the tenant is paying.As a side note, this company recently pulled out of Baltimore and is working in PG County.

No PG required just provide your FEIN.

., Montgomery, Ann Arundel, PG and a few other Maryland counties.

In PG County MD you can hit 70% minus repairs.

A form of house hacking my neighbors and friends have done in the District of Columbia and in PG Co are the following:Roommate in the house: This is what I did for about a decade until I got married.

On Pg. 262 of Brandon's book "The Book on Rental Property Investing" he talks about presenting your deal to a private money lender to make sure all the numbers are laid out clearly.Is this the same thing as an Offering Memorandum (OM) or has anyone created a .doc or .PPT for this purpose?

It's even gotten tight in PG county MD.  

LOT 5 BLK 2 REESE KING ADD TO BLUFF PARK ESTS PB 4 1 PG 57COM SW COR OF SE 1/4 SEC 6 TP 19 R 2W TH E 910 FT TH N 215 FT TO POB TH CONT N 160 FT TH W 15 FT THCOM AT NW COR OF SE 1/4 OF NE 1/4 SEC 7 TP 19 R 2 TH E 682.5 FT TH SE 134.5 FT TO POB TH SW 102.1 FTLOTS 39 & 40 BLK 8 NORTH LAKE PARK ADDBEG AT SW COR OF SE 1/4 RUN N 440 FT TH E 660 FT S TO P O B CONT E 150 FT N 100 FT W 150 FT S 100 FT

Just glancing at them, property taxes of 16% look high to me, but I'm not familiar with the area so that could be correct.I know you mentioned certain "synergies" which help make this a good idea for you, but if you were referring to living in the 5th wheel on the property and getting rid of storing the cargo trailer, well you've already said you don't want to live in the 5th wheel much longer so I can't see that as a long-term win.Overall, ignoring the underestimated expenses and everything else, you're report basically shows that you'd be spending $180k for a negative return, so unless you're banking on the property appreciating a ton in the future (which based on pg. 2 of the report it doesn't look like) I'd say this is an opportunity you should just pass on, but that's just my opinion.