This isn't a deal thats going to work, Seller needs some pressure like a tax foreclosure date.

@Ronald Rohde   Thank you Ronald, I found that index to be a much better indicator of what we are seeing. http://www.chapwoodindex.org  If no one can afford the new rates at accelerated building costs, it will put upward pressure on existing inventory to help increase price.  

I've spent some time on AirBnB, HomeAway and AirDna to try to get a sense but definitely hard to gauge what they will turn YoY etc. 

Anyone that can overcome all of that and not cave under the pressure.

So when their high pressure sales people say they "support" owner-operators, keep that in mind.

After doing your audit, you should do a broad search, say, for example, search Multifamily on Realtor.com for the state of Maryland just to gauge where the inventory sits.

When looking over the house, gauge if it's feasible to make that 1/2 bath into a full bath and it might be worth it to spend a little more on the rehab.  

I am not sure if you have completed any water quality testing or if you have tested the system for pressure drop but I would suspect that you may have nitrate issues on a sand point and you may have pressure/flow drop if you are trying to run a couple fixtures at the same time.  

(Fortune does tend to favor the rich).Only YOU can gauge your tolerance for negative cash flow while waiting for appreciation.For those of us who are paupers, we HAVE to invest for positive cash flow EVERY time (until such time as we can AFFORD to gamble on future appreciation instead)!

Use this to gauge both interest in configuration and price; to determine what effort you put into this building.Great project.