I'd bet that for the last 50 years, investors looking at Boulder have felt it was unaffordable, and that the numbers don't work for investors.

I'll also bet come Jan, they ask you to extend it because they haven't been able to find a new place...the answer to that is no.

A clear, defined exit plan prior to purchase that assumes flat or negative appreciation over time.In summary, not saying investing in D-class is a no-win scenario, just that there is a certain type of street-smart, though as nails investor/PM that can handle this.

And I genuinely believe there can be such a thing as win-win.  

Again, connecting with a local real estate agent in that area who knows the market inside and out is your best bet.

Doing a 203k on a multi can be challenging, depending on tenants so your best bet is to get one vacant, but then you are at a full loss while construction is going on.

However, the rapid rise of the technology sector in the Reston area has sparked them to double down on their bets for continued strength of the office market in Reston Town Center (the D.C. metro area has the 3rd highest density of tech talent in the United States and 9th in the world, especially markets in the Dulles Toll Road Corridor like Reston, where 70% of the worlds internet traffic flows through and is home to companies like Google, Oracle, and Microsoft).

Agree with @Marcus Auerbach...many of the folks you are hoping to win over here own 7 figures worth of real estate.

There is a Citizen by Development program that helps you save taxes for new developments but the best bet is to buy an existing property and slightly renovate.If you have never dealt with Caribbean based labourers and you have no patience... then the Caribbean is not for you. 

Once we get past the fact that, on an even playing field, the HELOC strategy wins out, people need to crunch their own numbers, research what kind of rates are out there, do their due diligence on the risks, and then identify if the strategy is for them.