Looking to invest in single family residential homes and/or possibly self storage.

it may be selling for $440k in a few years and you would have doubled your money with a lot less work.As a middle ground, why not look at buying 4 $80k houses in a highly sought after neighborhood in Rochester or better yet the Southeast or West where population/job growth is rising.

I am in the middle of a BRRRR now and I would have to leave another $15k into the deal if I have to base it on purchase price.  

Meghan McCallum if I would do a brrrrr on a property it would be a long time hold and the area would be middle to low class.

As a generality, I try to stay in the middle range properties.

I decided to try and get my feet wet by buying an out of state multiplex, which I'm in the middle of right now.

Some people have different niches in higher end but the "bread & butter" is going to be the "middle" of the market. 

(Many gentryfyimg parts of DC are well beyond 2006 levels)Higher income areas with concentrations of wealth tend to carry less risk while lower and middle income areas carry more risk for significant drops in property values.

Though you're in the middle of the storm you might find some insights.  

Areas that are descent but not necessarily Middle Class.As mentioned before we are mainly in the research stage to determine if Phoenix is the right place of not.