Thicker grass would be nice, but I am not sure it is worth doing sod.

In the past, I have owned grass huts in South Africa(Never went there) that were purchased for $25 and used at great places such as NYC, San Diego, Key West which including the maintenance fees and trade fee cost us less than $50/nightIf you by low and take the time to work the system, they can be a great value

Assuming you don't carry a mortgage, looks like I am coming closer to @Brent Paul on the $900/mth rent for NOI - which in my book is quite solid to pull the trigger.You have to consider income taxes in your state and depreciation to do a full analysis.

I've lived in NOVA for 16 years and most all of the MF 2-4 type seem to be closer in toward DC...Arlington, Alexandria, where the prices are very high.

Any nearby apartment complexes are in iffy neighborhoods, apartments on the other side, near downtown are too expensive, and the closest, cheapest, safest apartments and houses are closer to the University which isn't far, but crosses some busy roads and interstates which makes the drive much longer and stressful; and that's the reason why there's such a demand for the employees who want to rent nearby but don't have options. 

to be closer to family.  

Once everyone gets on the bandwagon though, the prices rise due to influx and the equity goes away and then you are looking at prices closer to market value.

I figure 5% vacancy on my numbers but I've been running closer to 2 to 3% over the last 3 years (again, it depends on your homes and your rents).So I'm comfortable assuming I should be making about 250 a month or so net.

If you are needing to make cash transactions or deposit money orders or needing your tenants to make deposits for you then finding a bank closer to Spring would be to your benefit.  

Can I make their payment closer to the rent they are paying to help with cash flow and the pay down of their principal to help with future financing?