Problem I've had with my online research and with driving around the Woodbridge,  Manassas, and Occoquan areas is that the pricing is so high compared to down here so deals don't jump out at me as easily.

Also with housing and rent how it is if those ultra low rent and property states (compared to CO) pass the laws some people might migrate out of necessity due to the high prices locally.

Compare houses to one another.BE WARNED: Do your due-diligence and do your numbers before making a purchase.  

How much less than 5à per cent should the mortgage be compared to the rentto make some money?

Well, that's exactly how it's been in Europe and one of the reasons why it's by far less lucrative compared to the US.

@Ryan Jenks Being in Charlotte my self and cheap entry point compared to you. 

Over 100k to be made ino profit.Asking 130k Arv 307k to 440k - (for 3 bed 2 1/2 bath) Repair - 90kSold Comparables$440,000 - 04/2016 - 44 West Shore Dr, Putnam Valley, NY 10579$328,500 - 04/2016 - 127 sunset hill Rd putnam valley ny 10579Please pm me for details

PVB is relatively more expensive than the greater Jacksonville, it is dirt cheap compared to even the "adequate" parts of Chicago.PVB is a great place to live but the mortgage cost relative to the rental rates are terrible for buy and hold.

The interest is also a little high compared to conventional rates right now, but if you don't qualify for that type of loan--or you are only having to put down a low amount of money--then I think it's not terrible (if it cash flows).

That's certainly your prerogative, but when you are cutting corners, don't be surprised when you attract customers who want to do the same.Sorry if this comes off as harsh, but I call 'em like I see 'em...and I hate to see people cutting corners in this industry.