Also, would you recommend going further away from down town (ex: 21206) or buying closer to down town and hoping the area gets much better? 

I am interested in meeting other investors and pursuing probate In this smaller town. 

Zip codes to look into:2121721218212072121521205212302120621213Neighborhoods: Reservoir Hill, Pig Town, Washington Village and area close to Johns Hopkins Hospital.

I have given advice to an investor who was looking right in the town i live in and i will not try to take someone else deal that they found. people like you that will give and not take or want in return that makes these forums worth going to. good job helping a fellow investor out.

Have any hesitations towards renting out town homes rather than stand along single family houses?

It's the nature of the business.I wouldn't recommend hiring an agent since most agents aren't familiar or comfortable with the areas you would be investing.Your best bet is to find professionals in all facets of the process in the market you choose then fly in to town for a couple of days.

@Ivory Hayes and @Ali BooneAre there any cities/towns that you’d suggest I visit? 

One thing with Condos and Town Homes is the repairs are usually less frequent.

Also, take into account the amended rules AB 2299 and SB 1069, and explore the opportunities they could provide you in the neighborhoods you are concentrating on.  

Get your tenant to explore NON- FHA options like 99% ltv & 97% conforming loan options.Also, you need to know the REAL deal with this buyer's "Mortgage" report credit and ability to obtain a loan.