We are interested mainly in TurnKey properties, as we are still working full time and are looking for out of state properties.

FYI:  the main unit is listed as a 3/1, but we found that it is really a 2/1 - the 3rd "bedroom" is technically a den and is a walkthrough to the 2nd bedroom upstairs.As we looked at the property late(r) in the evening, we weren't able to view the exterior/roof of the property very well. 

There is asbestos insulation, and rotten sills on both the garage and the main house, and electrical problems (short in the bathroom, no grounds, and not enough AMPS for the house).

In addition, there are a few main components of the structure to consider: exemption status (506b vs 506c), equity split, preferred return, fees and waterfall hurdles.

My main strategy is Fix and Flip, but also watch for good BRRRR properties and want to get into Buy and Hold on Multi Family. 

Therefore, the main thing to keep in mind is that even if a market crash happens on the same level as the 2008 financial crisis, in the long-term (5-10 years), you will still be in profit.

If your main concern is the credit hit I would not worry about it too much as it takes 3-4 months at most to recover.  

I would love to know what others in DC are doing and if you could recommend a company with whom you've had a great experience.Operating mainly in NE DC.Thanks!

I see mainly old posts regarding Miami or South Florida for that matter, so if you’re interested feel free to comment or message me.

Our business works with single family houses mainly.