Northern Virginia Investment rentals

[Lori N.]

Hi all, I'm looking to buy my first investment rental in the Northern Virginia area. Budget is 400K. Looking for appreciation and modest cash flow at least. (The more the better obviously.) I had high hopes about the area near where the new Amazon HQ is going to be, but don't think this budget will allow me to get anything besides a condo which I am very wary of because of their high HOA fees. Seems like townhomes are the better bet. I hadn't thought much about outside Fairfax county but places like Reston, Herndon, and Manassas seem like they fall more in that budget. Anyone with any experience in these areas? Is the appreciation good there?

Thanks in advance for your input.