By the law of supply and demand, that means you'll be getting less for your property.

You are in for 185,000 can sell for 280,000 and even after fees and recapture or whatnot you still bank 60-70k   Use that money as seed capital to do it again  This probably was a better flip then a long term buy and hold just based solely on the numbers you supplied   

Boils down to supply and demand.

Rents are stronger than VB, purchase prices are lower, and they have programs for landlords that no other city in our market has. 

The better and stronger comps comes from MLS which has properties that have already been rented to make your final decision. 

That means that “house prices in the cities thus not only reflect the local factors such as supply constraints, regulations and zoning, but also global trends.”"

However, the supply seems very low in the area and I would need to save for quite a bit longer just to end up paying out of pocket still for a small part of the mortgage.

Ive been weighing both sides and I might end up doing a mixture of both, paying off about have of my debt and then begin to invest hence it will allow me to have slightly stronger credit.

Also, you should speak with the neighbor regarding her insurance, and also take a close look at your own insurance policy.There are normally only two types of leaks in the scenario you describe:  a supply line leak or a waste line leak. 

The wholesale prices are essentially MLS retail prices right now because the supply is so low.