We are not having this issue in MA; housing inventory is so tight state wide that anytime there is anything new on the market it gets snapped up. 

Some of the parameters we are looking at   - Doesn't need to cashflow but goal would be to get as close to breakeven as possible- We are ideally looking at the long term appreciation / ROI potential but don't want to sink a bunch of cash into it in the short term- We are open to SFH, multi-unit, duplexes- 300-750k - I know its a wide range but we are more interested in the financials and outlook of the deal rather than the total asset valueBased on the above, what woudl you recommend in terms of neighborhoods and asset types to focus on?   

Some of the parameters we are looking at   - Doesn't need to cashflow but goal would be to get as close to breakeven as possible- We are ideally looking at the long term appreciation / ROI potential but don't want to sink a bunch of cash into it in the short term- We are open to SFH, multi-unit, duplexes- 300-750k - I know its a wide range but we are more interested in the financials and outlook of the deal rather than the total asset valueBased on the above, what woudl you recommend in terms of neighborhoods and asset types to focus on?   

After a drawn out battle with one of my main servicers who put their own moratorium state-wide on foreclosures, to cover their @$$, (even demand letters ) moving forward with attorneys in each state to handle them independently now.  

The costs associated with the new heating system are going to vary widely depending on:  is it truly just the heating, or the HVAC? 

Including many BP inquiries, I cast a wide net, I hunted nationwide,  and ended up buying 3 SFH in Oregon. 

Your situation might be different than mine, but it's something to consider.Based on your question, the other angle you could consider would be a HELOC, though unless your house has appreciated greatly, you might not be able to get a line of credit, and even if you could you might not be able to pull a large enough line to invest on a downpayment.

The reason I'm approaching from this angle is because by saying ARV, it makes it sounds like it needs work; how much renovation is needed?

Debt service coverage ratios, fees and charges vary widely.  

Aloha @Jake SilvermanRight now we're seeing wide ranges in DOM, sale to list ratio, year over year appreciation/depreciation, etc. depending on the neighborhood and property type within the neighborhoods.