So yes, in my area, you need a license.Now, there are plenty of households with 3 unrelated roommates, especially if it's a SFR, because in my area, most SFR are 3 BR's and up.

Since real estate cash flow isn't the primary income in our household, I'm looking for growth (appreciation), with enough income (cash flow) to avoid contributing capital to cover large capex costs, which we have indeed incurred.

DC Metro area....while it seems expensive at first glance, the median household income to median housing price ratio shows that it is a much more affordable area than places like nyc, boston, seattle, LA, Portland, Denver etc.

I'll take anything to help my Household CO understand this opportunity AS I SEE IT!

That's more than your total household annual income.  

Also, when I'm in the seasoning period I'm collecting more rental income.The issue with financing is that I may not be competitive @ 20% down and/or may run into financing issues with either the property or as I accumulate more properties it being more difficult to get the financing on properties 4, 5, 6, etc.Some other things: My wife and I each have a W2 job, household income is ~$200k per year. 

@Jeff BensonWhen investigating new markets I look for things likepopulation growth (upward over the last 10 years)Job growth 1% or greaterUnemployment =< national averageper cap income 20KHousehold income 3 times annual rentnumber of households (in comparison to other markets) Favorable government policies (is the local government looking to attract business) Those numbers will give me a sense of the macro market.

Then at the actual house holding level is the net p/l. 

For example the downtown is not as ritzey as LA, Portland, or Seattle, many households are the traditional one male breadwinner mold, and when I went to eat at a restaurant people were wtf it's an Asian dude.

In the third quarter, 51.1 percent of households with expiring apartment leases chose to renew.