These folks are here to teach and you will leave with some real gems.  

We are staying away from early 70's build and going after the somewhat newer vintage since the cap rates have a pretty small delta.

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

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

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

But, what I can tell you is this:If you're looking to attract Section 8 tenants (or cannot lawfully turn them away simply for being Section 8 tenants in your state) you need to be aware of this little gem: Section 8 Fair Market Rents.

Lots of crap tenants and area with poor financing options and occasionally a few gems show up with good tenants in good areas.

Further, if you are planning a deep retrofit on one of theses older gems, plan on extra work - when opening up a 100+ year old wall, you will find something - and build a little more contingency into your budget that normal.  

Kristi's a gem/diamond... thorough and she's down to earth.

A lot of what is on the MLS is overpriced from a cashflow perspective and when I find a rare gem there are numerous above asking price cash offers that overtake mine.I have expanded my search to include wholesale opportunities and found something fabulous in Logan Square that requires a gut rehab.