-why not pick a market closer to home? 

I have been digging into off market deals and it has been promising.

Are you currently investing in your hometown or are you looking at out of state markets?

In general, government will set the assessed value lower than market value at reassessment in order to neutralize appeals.

It's not illegal as far as i'm aware, However it only works because section 8 is so competitive in D.C, I imagine it might be a turn off to potential tenants in less competitive markets

It affects the marketability/value of the property. 

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It's one of the hottest markets in the US right now with so much population growth, job growth, and companies moving/developing here (26B Intel headquarters being built here, 68K+ enrollment in Ohio State University, Amazon, FB, Google, Honda, Nationwide, Anduril, etc.).

No issues and tenants are renewing.That indicates tenants were paying below market rates.If the market rate for a 2-bed/1-bath apartment is $1,000 without utilities included, then he should adjust his rate to $1,100 because it includes $100 in utility cost.

Don’t forget. 2024 rent cap was 8.9% so you may never get “market rent”.