Do you know of any areas/properties in Virginia, Maryland, DC and Pennsylvania that produce good cash flow?

If you have a good PM and contractor in place, I don't think it is impossible to find those kinds of numbers on the buy and reno side but you will be looking more at the $800-950 range for rentals in those areas and might have trouble getting section 8 tenants.

Just using the 1% rule will get you in trouble in this market.Regarding going through a renovation- Get qualified for both a regular loan & a renovation loan. 

Wouldn't it be nice if the seller's did inspections up front to save everybody the trouble of thinking about this?

We're going to be dealing with the social distancing for a while now, until the doctors come up with and start producing a working vaccine, and then we can expect a slow rollout.

--https://www.latimes.com/business/story/2020-03-08/oil-price-war-Oklahoma shale producers break even at $21 to $48 per barrel (i would think its closer to $40 in Oklahoma) -https://oilprice.com/Energy/Energy-General/Why-The-Oklahoma-Shale-Boom-Isnt-Taking-Off.html-Oklahomas state budget is made counting on oil selling for $54 per barrel it is currently at $31 per barrel and dropping - https://kfor.com/news/local/dark-clouds-could-be-on-states-horizon-as-oil-prices-drop-to-30-year-low/-While oklahoma's economy is very diverse it will be hit if prices do not rebound in the near future - https://oklahoman.com/article/5627150/state-chamber-provides-new-analysis-on-oil-gas-industrys-impact-on-oklahomas-economy-and-tax-revenues-Oil and Gas would fall under mining and make up 22% of the GDP for oklahoma see page 11 - https://www.ok.gov/oesc/documents/lmiEconIndPub.pdfThe Good The Bad and The Ugly -Good - oil and gas prices may come up if Russia gives in on this play. 

We're having a lot of trouble getting into enough conversations with investors though. 

However, if it's a comfortable driving distance from Toronto (or some other populated city) I would definitely look into Tiny home/Cabin rentals as they are low cost to build and can produce a great ROI.

If you trying to do this deal with less than 20% down, you're going to have some trouble.

Anything can happen during the first year, and if payments are not made, or tenant destroys the property and you walkway from it, you will get caught and will for sure be in big trouble.