Hi BiggerPockets community!,I'd like to start off by saying I am very impressed at the varying levels of expertise represented on this site and that I only wished I would have learned of all of these opportunities ear...

The conundrum is that I’m playing with speculations on the housing market.

I, personally, would reserve $100/mo. for capex in your situation.One thing most folks miss in this stuff is the waste line to the street unless its brand new your going to replace it for 3 to 5k as well over the life.. along with plumbing fixtures etc and maybe even a replumb under the house along with dry rot etc..  

Also, it really only comes into play if/when the bank completely takes the house back over.

While benefiting from a great location and solid bones, and a good rental history, there is no denying that the dearth of inventory and the general frothiness of the real estate market must have played a role. 

Yes, cash flow play only is my mentality.

Multi unit investing is a cash flow play where as SFH investing is primarily an appreciation investment.

I infuriated my mother on a cruise ship once because she gave me a few hundred bucks to spend at the casino...I played two rounds of three-card, won, and walked away!

Both of them are offered as value-add plays based on a light reno which is supposed to result in rent increases of $115 to $150 per unit.I have my own thoughts on where I want to be in terms of property quality but I wanted to see if any investors local to the area or knowledgeable about the area could offer any opinion on what class these two neighborhoods/areas are and which of them would be more resilient in an economic downturn.

Your financing will also play a role.