I will say, if you don't mind going in to some of the rougher areas of Baltimore and Hagerstown, MD you may be able to find distressed product around that price point, but I'd plan to be in around at least $30k to $35k after some rehab. 

My questions for general BiggerPockets users: Would you recommend a single family home or condo for a first time flipper?

I've been investing for a few years now in single and multifamily units but would like to turn my focus into making this a career.  

 #1 - Acquire a HELOC on the investment property (old forums stated PenFed has a product) at 70% LTV (Don't want to cash out refi, since I have a really good 1st mortgage already in place)  #2 - Take out the funds out of the HELOC and put into savings for 3 months  #3 - use the funds along with some of my other savings to acquire another multi with 70% financing.  

Start out with a single family rental or maybe a duplex.

My plans are to start with Single Family Residence & move towards Multi-Family units.

But for my single family 4/2 I have about a week of vacancy when I have turnover so far that has only been every other year or so.

I'm having a tough time seeing a RUBS scenario that would work for a single oil tank/furnace that powers two apartments.

I have been offered a short sale on a 4plex, run the numbers and it looks like a good single or double (not a home run) which for me is fine but i have no experience in this area.

My day job consists of being a Product Manager with a large technology company, focusing on helping other companies define their cloud computing strategies.