More like low to mid $30k

I'm actually purchasing another STR right now (expecting to close mid August). 

Mid SouthJH Memphis

Hoping to get one set in mid November

If demand is met or exceeded, then this policy could have the potential to increase vacancies, lower rents and reduce property valuations for lower end real estate. if not, then the policy (if abused), may only serve to speed up the development of high-end rentals and consequential leave the low to mid end market largely unscathed. 

Low to mid $400s SFH in Rockville/Silver Spring that I can rent for $2600-$3000 is my property type of choice.

I looked at a house in the mid-cities area that I was looking to buy and even with me doing my own rehab at cost, I don't know how it would have made money.I'm looking in another area and I Googled "wholesale real estate whatever city" and found some that way too.  

Specifically I'm thinking Madison Park, Reservoir Hill, Bolton Hill, and Mid-Town.  

My mid range goal is 9-12 units over the next 5 years.

You can see some good pictures of recently renovated mid-range priced houses that have been sold but not yet closed if you check out any of the residential listing platforms to see what the finished product might look like.