I would love to be able to spend all my time in REI and property management, but that will have to come down the road given our current financial position.So it seems like targeting properties for non-students would be the best choice for our first investment or two.My other concern with student properties is how competitive the market would be; first, for purchasing properties that become available, and second, how low profit margins would have to be in order to attract tenants.  

76% is not a very attractive number. 

I'm going to get the laundry facility up and operational and I'm going to do a facelift to the complex in hopes to attract a better tenant class.  

I have zero acting experience, however, what is attractive to me about this is the fact that I get to be myself and show the real truths about renovations and flipping multi-million dollar properties.

Your $175000 home is also below median so it will continue to be attractive to first time home buyers.

Hi Burns, The tax-free aspect of the 121 Exclusion (Section 121 of the Internal Revenue Code) is a very attractive strategy. 

Obviously mobile homes don't necessarily attract the best of tenants either.  

My focus will be the areas most attractive to cash buyers and investors.

I say this, owning a 4plex about a mile away on 82nd Ave that I was able to attract good tenants to after I bought it a few months ago.

Having watched DC and Baltimore markets, you will definitely attractive deals at both the places, the only difference I have found is you will need much more capital for NOVA markets than in DC market.