The first thing you'll want to do is run the numbers with your lender(if you need a local referral let me know) to see what price points you'll be able to look at and then you can also start seeing what mortgage payments are going to look for the two different property types this will allow you to get down to analyzing deals.

Trying to analyze as many as I can so that hopefully I'll recognize a good deal when one comes. 

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

I will be injecting new funds every year.Full Control: I enjoy analyzing deals and prefer to have full control over my investments, so syndication is not an option.Given that I'm a complete newbie in real estate, I would greatly appreciate your advice on the following:Selection Criteria: What factors should I prioritize when choosing properties?

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

I analyze these for my clients to see if make sense to even buy or what to offer for it.P&L is just that, profit and loss. not much else to look for but more like question the line items.What is the period of the P&L?

You would have to analyze if it's better for you to purchase a condo in NoVa, a townhome in Fort Washington MD or if its better for you to rent.

They also set you up with a mentor who has a vested interest in helping you do deals because they get a percentage of profits for the first year. the mentor is available by phone, email, or text 7 days a week and help you analyze and structure deals.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.