Washington DC Investing - 1BR's in hot markets

[Tim Cassels]

Hi all, I've been looking at some options to start investing in DC (where I live) or Boston (near home). Obviously both are INCREDIBLY expensive and almost runaway in my opinion at this point. I could probably *barely* get together $90-95k for a down payment, and I'm in my mid-20s so I was looking for a long-term CF play. 

I recently noticed there are some 1BRs in DC listing in the 300's with low HOAs that I think could CF.

Does anyone anyone have experience/views on investing in 1BRs in incredibly hot markets? Too risky?