First time buyer with some capital

[Tyler C.]

Hey first post here. I'm 25 and living in DC and thinking of buying a home/apt but not sure the route I should take. Being a landlord has always been appealing to me as I grew up working on homes with my carpenter neighbor. I am very fortunate to have some start-up captial (10k of my own savings and another 75k in a trust fund that my family expects me to use on a home). Homes in DC are outrageously expensive so buying in DC proper is not an option except SE. I have a modest income (I'll make just under 60k this year) as a Vegetation Management Arborist. Now I'd like to buy to rent... But I would consider a flip. Now renovations of a property don't scare me, I've done work myself and I have a classmate who lives in MD that has a contracting license.. I've also done some part-time work with him. I'm looking at properties from DC to Baltimore and in Chester County PA where my family is. I say PA because I would consider moving back up given the headache DC is. So for the DC area i cant afford much except near Hyattsville, MD. Long story short, should I buy courthouse foreclosure, REO, or a turn-key with walk out basement? (In-law suites draw 1k a month easy down here). Footnote: me and my buddies are all looking for a place together mid July, so this could be a really good time for me to make this move possible given the potential rent from 2 roommates.

[Russell Brazil]

I'm not sure why you find making 60k and having 85k available to go towards housing so limiting? I think there are many locations in the metro area that your financial situation would work perfectly fine.