I have been doing remodels for 25 years and have NEVER seen one that came in on budget.

I learned the process of management ( the up and downs ) Cash flow is great having held it for a longer timeframe.I’ve learn the cycle of the property and what to expectant budget before it happens.

Your budget and current savings will play the biggest factor in where you can buy.

For a 1/1 you should budget $150 or so per clean like @Laura Myers said.  

I also live in NOVA and I find the market very expensive for my budget so I analyzed couple other nearby markets (Baltimore, Harrisonburg and Richmond) and decided to focus on Richmond VA.

I did review the HOA docs and HOA budget and I was able to confirm that they have ample reserves but I'll need to double check when was the last time the 40 year was performed.

I'd aim to find/buy/create a deal that's $125K this way you're under budget from the get go.

the wholesalers will make quite a bit more per deal But good ones have HUGE marketing budgets so not sure what the net really is for many of them.. 

There are a few things that you'll want to budget for and your lender will also want you to have reserves on hand in order for you to qualify for the loan.

If you decide to go for it ook at what kind of rehab would be needed to make the rental work and budget for that.