As for your question about low income neighborhoods, the first thing you need to understand is you can not change the neighborhood.  

A concern I have is that there aren't a lot of four bedroom homes in our neighborhood (ie are we pricing our home out of comparable range).

If you come across any deals that fit the "general" 70% minus repairs and they are in good neighborhoods or school districts (preferably both), send them my way.

The rule is in place to protect the neighborhoods that had too many rental homes, with property owners who did not care to keep them up well, and where tenants would park in the yard, have late night parties, and do all the things students do in college.  

The house itself is an old historic victorian in the Irvington Neighborhood of Indianapolis, it was a primary residence for a few years before relocating.

This home is in an neighborhood my wife and I love, and would consider moving into.

I've been in Northern VA for about 2.5 years and starting to know the towns/neighborhoods pretty well, let me know if you have any questions on the area.

Thanks on the input @rick Harmon Thanks for the advice, I work for a plumbing company and had work in the neighborhoods and talked with my customers about the property and they have said that the home owners just up and left the property, but I will be giving a call and try to get in touch with the right owners

In our neighborhood (+/- a mile), I have not seen a single home sit on the market for more than a month since we have been here.  

There's a certain comfort with local people who are well woven into the fabric of my neighborhood.