This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated.

With your budget, depending on where you are working, I'd consider Silver Spring or Hyattsville  

Hi Kana - I think it depends on your budget of course.

Gucci handbags, have big screen tv's, they are NOT living on a budget at all.

@Katie Miller, I purely entertain referrals from other people who have had great experiences with niche CPAs. 

You will need an additional $300-500/month budget for capex.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

 Seller isn't budgeting on the 1.25M asking price.

While I understand the risks associated with investing in areas unfamiliar to you, my budget forces me to do so.