If you're not tied to just DC, I have been looking at investment properties just outside of DC in PG County. Not only in the under $50K range, with up to 3BR, but a lot of them are in move-in ready condition or only need slight cosmetic work and are typically renting in the $1000-$1200 range.
I have a contract on one myself as an investment that is a short sale. I was actually showing it to a client who wanted a larger unit and I couldn't let this one go, so I put an offer on it myself and it was accepted at $35K and is move-in ready.
Let me know if you'd like to go out and see some of these properties I've been seeing in the last three months. I also just looked at some other houses out-of-state that my husband and I are going to start investing in through a company that will manage them for us at only a 9% fee.
Buyer's and Seller's REALTORÂ®
Keller Williams McLean
That's a great idea to invest in DCs market. I'm not only investor, but I'm also the property manager for Avery Hess Realtors DC. I rental market is really hot. Everything I list for rent goes within days. Also, if you are looking to buy, fix up and sell, I have a number of tools available to get you the best buy for you dollar. Such as Hud site, MLS, and numerous forclosure sites. I'll be happy to help you in your search for your investment property. I've made many people alot of money. Let me help you.
Avery Hess Realtors
Please feel free to contact me with more details.
The rental market in DC is very strong right now. Certainly, you can't go wrong if you buy a property near metro. But in some neighborhoods, even property not near metro are renting fairly quickly.
I own several rental properties in DC, so I'm a landlord as well as a realtor and know the market well. Neighborhoods that are affordable for purchase but still offer positive cash flow opportunity AND are near metro are Petworth, Columbia Heights, Takoma Park, Ledroit Park/Bloomingdale, and Brookland.
Check out my investor webpage at http://www.bestdcrealestate.com/buyer/investor-services.htm, or give me a call at (202)309-0146