Or, if you're not so concerned about having money immediately available and potentially missing out on a deal, perhaps you instead choose to invest in something a little less liquid but that might earn you a higher return.Assume either way that you can cover all your basic living expenses and that you have the necessary reserves saved up to cover the unexpected things life throws at you.  

The probable extension of the orange line towards Centreville is making that area quite attractive (still cheap in comparison to Vienna or Alexandria) 

If you earn enough to qualify for a >$1m mortgage, you will be over that income limit, this works out to being a pretty hard and fast rule too.So it's basically stick to SFR and duplexes, put the time/energy/work into finding something off-market (no listing agent, not on MLS, not on redfin, not on zillow, etc) for dirt cheap (25% off of what it would sell for on the MLS should do it), or save up 20%.

Properties here are often cheap for a reason.  

Been using it for 3 years with no major issues and you can get plans as cheap as $35 a month (At&t).

My competition is a cheap motel next to a refinery. 

Mortgage loans are cheap money. 

You can live cheap, learn landlording/property mgmt and save for your next investment by living cheap.  

You might be overthinking all this and the tenant is just throwing out a reduction and seeing what happens.

That’s like throwing your cards in when your holding a royal flush.