Integrated School District" is my best guess.

I am leaning towards buy and hold as the home is in a top school district and has a new major roadway in the area bringing in a lot of new commercial & residential building.Any thoughts as to buy and hold or flip?

Although you can't necessarily find vacant properties using the local appraisal district data, you can find out of state or non owner-occupied properties.

When I say numbers what I am really saying is taking everything into account, crime, school districts, tenants background etc. do the numbers work for me.  

Those in the "universityville" district are most likely going to be purchased by another investor and are no different than selling a small residential MFR - though sometimes by parents sending kids to school will {over}pay for one.

Another question that I have for you would be, When I am calculating the cash flow on alternative investments, if I look at say, a $150,000-$200,000 house in one of the areas I mentioned, preferably either in Park Circle or Dorchester II district, do you see the rent multiplier being like .008?

I've rented to Yale grad students and faculty, and now almost exclusively market to those affiliated with Yale. 

I'm interested in DMV (District, Mayland, Virginia) properties.

Looking at purchasing a commercial warehouse property in Petersburg, VA for our own use.Property is near the historic district, good size, near highways, and priced right so we still have room to invest in business & don't need to tie up all funds for a mortgage.Drove down there last week & Petersburg has some beautiful historic homes sitting right next to bombed out houses.

The capital district area of Albany, NY  has a population of 848,000+ and there were quite a few BP members from my area.