As a side note, we recently developed an interest in freshwater fishing... any bass anglers out there?

I am interested in the BRRR Strategy, long term holding for cashflow, house hacking my first deal, and developing quality relationships with good people who will help me improve as a human being. 

One issue will be if you are buying a townhome or condo in those areas, most are legally structured as condo's and FHA has restrictions on condos will limit the developments you can purchase into the ones they have already approved. 

Its a capital gain market not cash-flow. unless you can invest in Commercial or develop to hold. 

I have to find my own deals on realtor.com AND zillow email alerts based on a filter.My low ball offers are much more likely to be given a serious look because i developed a relationship with the listing agent, my best resource to take my offer to the seller and make the pitch. 

Being a parent not withstanding, good will is difficult to build and very easy to loose.I would rather owe the banks and if a jam develops have family back me up then get into  a jam with family.

My first REI deal was also a similar disaster except it was a development project.

The center is very well maintained with tremendous upside- the previous owner was a big company focused on its development business and neglected this center (it was its only shopping center), such that it has about 68% occupancy.

I originally grew up in the DC/Maryland/Virginia area, but for the past two years, I have been working as a software developer in lower Manhattan.I have basically zero background in real estate, but I hope to learn a lot from this community -- enough for my wife and me to invest in one or more rental properties within the next two-to-three years that will give us a nicer return beyond our retirement mutual funds. 

You shouldnt focus/invest in all kinds of multifamily (ground up development, small multis BRRRR, large apartments syndication, medium size multifamily wholesale, etc).