You've identified what enough is and are moving toward it. 

Have you got prequalified to identify how much you can afford?

thanks  Hey Nahal,So you're definitely on to something in identifying the different metrics you specified (falling prices, rising interest rates), however that information is now a bit out of date.

I'm not very familiar with townhome associations what they generally identify as common elements. 

What are effective enticements to owners, how do I identify them being of value to that person and properly valuing a negotiated item.Thank you to all that offer a reply!

Drive and walk around as well as identify any specific reports on neighborhood demographics/specifics.When you become familiar with the neighborhoods, you'll then have a better idea of what a good deal looks like.

Lots of dollars chasing these.I like these as well, so I've identified a hyper focused neighborhood that has the class and location I like. 

Plus, you need to identify if the property is in a MUD district then head on over to that website to check taxes.

What are your thoughts on ways to:- Identifying the right section 8 areas - Find with experience in section 8 (inspection process, etc)- Identifying good Section 8 properties

I would suggest moving here first, then trying to identify neighborhoods on the upswing.