This would mainly depend on the market as you said.

In today's market I wouldn't touch one unless you can get 8%.  

Educate yourself on the local market, network with other investors and agents, and always have a solid plan in place before making any investments.

Someone with a large portfolio might have a system that works for them and which they have maximized but which might not translate well to your market, your personality or your approach to investing.

But what really makes Reston Virginia such an interesting investment is the meteoric rise of the Reston Town Center, and its recent office market outperformance.

After a lot of research it doesn’t seem like single family investing is very lucrative, unless you score a killer off-market deal.

STR is best suited at the moment for more of your higher end properties 750k+ from what we've seen in the market unless you get a unicorn deal.

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

Typically when one of my units turns over I evaluate the entire unit to determine what needs to be done to get the most current market rent for it.

Back at that time it was already a hot market, I was able to get this property with a full cash offer.