Here is for you to ponder 'The gem cannot be polished without friction, nor man perfected without trials.- -- Chinese proverb

This was a very insightful thread, some real gems from Curt Smith!

I want my first property to be my primary residence for a few years as well The problem I have come across us that in the D.C/MD/northern VA area a lot of these properties are well north of 500kThe ones that aren't are are in not so great neighborhoods (Trinidad/anacostia/Minnesota ave) etc, and at least according to the reviews from Redfin agents will require at least some rehab I'm sure there are gems in the area that I haven't stumbled upon yet but my question would be should i possibly look into another niche/strategy for this area with a lower cost of entry

You could have found a gem at the right price but you need more research as more often than not it's the opposite case.

A word of caution, you cannot get a 700k multifamily unless the rent roll justifies it (bank only counts 75% of the gross rents) So aim for less expense ones ... maybe you can find a 400k or 500k that will cashflow. 700k is going to be to high rent for you to secure a loan on unless you can find an real gem that nobody can finance.

We plan to do a vintage remodel for each unit. 

I want to hear about the blue collar guys in the trenches who took a rat house and made it a gem.  

Vintage untouched 1954 where the original owners died and the kids are trying to sell the property through a realtor.

From the other side of the table I think it can be very hard for someone that doesn't know a lot about real estate or investing to separate the vast majority of agents that are much more suited to deal with owner occupied properties and just do not have an investor mindset to those true gems that are a huge help to investors like me.

Even on not-so-awesome deals there plenty of activity, so I cannot imagine that in a market like this there would be enough "hidden gems" to make a living of off.