I want to have at least one rental by the middle of the year and I would like to have at least two by the end of the year.

However, in the Midwest, it is quite common to see 10-15% cap rates often, 15-20% in lower middle class-lower class areas. 

You don't want to uncover them in the middle of your project if you can avoid it.We do them every time now.Andy

The story argues "coming amid waves of gentrification, the reports of deed theft have helped feed the unease felt in neighborhoods where longtime residents — blacks and Hispanics, the poor and middle class — are increasingly being priced out."

East Mount Airy is the same, a little cheaper than Chestnut Hill and West but a very solid middle/upper middle class neighborhood. 

They are acting as middle men trying to make a profit on the spread between their contract price..and what you will pay.

The property is a single family home, well over 2,000 Sq. ft. in middle class neighborhood.

They say it was a middle fired from a sub off the coast. 

You can do this in one of two ways:  First, you can negotiate the payment and the price down and do what is called a "sandwich lease option" where you stay in the middle of the deal. 

For appreciation, I like parts of Rockville (Northern part of 20851 specifically), parts of 20906, Silver Spring, Brightwood, Ivy City, parts of Alexandria.