I've helped many investor clients get into the rental market by facilitating the purchase of units in Brighton. The high student population in the part of Greater Boston is ideal for long-term rentals and a continuous stream of tenants. I'm actually going to be listing two studio units very soon, both purchased by a client of mine for investment purposes. He's relocating and need to divest himself of the properties. Each unit will be well within your budget.
For more details about these listings and other similar opportunities, feel free to contact me through my website: http://www.GoHomeWithMichael.com
I look forward to hearing from you.
There are not a lot of condominiums for purchase in Boston in that price range however, there a few in the Fort Hill Ave, Roxbury which would have good rental income as well as a few in West Roxbury and Brighton areas. The Brighton area might be a nice spot for a rental once all of the student's come back to start school.