They'll probably still be in the $200-$250k range though, but maybe you could house hack a townhome or SFH in the $150k range.

I've checked comps around the neighborhood and although they're a little nicer in terms of renovations, I've noticed the average selling price ranges from $100k-$110k and rent ranges anywhere from $900-$1,000.

Do folks feel that is diverse enough?

This has put a lot of pressure on older properties I will say that the price points for the above mentioned complexes are ranging $600-900/mo PER ROOM.

The house is a couple hours away from where I live so I first looked up the sale/purchase history of the property and saw that there has been a HUGE range of fluctuations in its sale/purchase price in the past, I can't quite tell what's been going on.

I would suggest focusing on the largest multi unit bldg you can buy (based on available cash) this should be roughly in the $2 mil range.

Most small mom and pop investors with 1-4 properties (all on 1040 with fairly clean books) we are in the range of $1,200-2,000.

My range is 10-14% int rate, 2-4% points, and $20k - $70k for immediate closing.

That has me thinking places like Miami,(beach)  Houston, (diversity) etc. 

As far as future rentals: I haven't narrowed it down a ton but as @Zeke Liston kindly gave me a heads up on in this thread, Columbus OH is an up-and-coming market that looks to be in the price range I'd be looking for.