Baltimore is also very neighborhood oriented in terms of quality areas, so you need to drive your neighborhoods and know them pat before you consider buying in a specific hood.

By BP standards, the numbers probably aren't there in terms of Cap rate, or the 1% rate. 

Thinking in terms of a complete redo, you would need to buy it for around $250,000. 

They still don't have much in terms of management software.

How would I deal with that in terms of calculated cash flow.  

I put about 7k down (3.5% + closing costs, etc) to get into it.. so if I sold it for 160k I would make my 7k back plus a couple of extra grand after the realtor fees are paid for it sounds like, not bad for only living in it for a year.Me being a single and younger guy, I just think a house is too much for me in terms of keeping up with it on a daily basis, yard work, and things, so I was thinking of possibly renting it out and getting myself an apartment for now (or even a second home for investing purposes but I have no idea on the income requirements for obtaining a second mortgage).

I like to think about how much does that fancy car really "cost" you in terms of lost investment funds and opportunity costs.  

Take the lump sum, invest it.  50 years is a long long time, especially in terms of technological advancement.

In terms of wholesaling, the hottest market in our area is PG County especially over by the SE DC boarder like Cap Heights up to Hyattsville. 

I would discuss this with your CPA.HOA fees are deductible on schedule E- but they're not going to result in a dollar/dollar savings in terms of cash flow.