This was a few years ago, but at that time as I recall they were looking to do more long-term property leases over owning properties and doing pretty landlord friendly leases where they would do repairs and even pay property taxes. 

I'm friends with one of your colleagues at CSSI Brenda Reding. 

@Yents Ybrimovic If the 203k loan only requires 3.5% down and you can finance all the repairs in the loan - then what exactly is your friend contributing?

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Would this be something where your daughter would live and 1 or more of her friends would be roommates?

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There are a few options that are first time investor friendly, do not require reserves, and do not have any prepayment penalty (with no cost to buydown)

In a tenant friendly state you have to.BTW, when you list, there's a fair housing law. you cannot deny a sec 8 if they qualify. your standards need to be the same for everyone

Have also done work in DC and Maryland and would say Virginia has significant benefits over DC and Maryland because it is more business friendly and jurisdictions are willing to work with not against developers on projects I mentioned as well as you mentioned With the federal government and government contractors not going away - area is great for investment.

Ryan, this kind of deal reminds me of a situation a friend of mine, Carla, encountered a few years back in a suburb near San Diego.