Your income is easily enough to get into a nice multi with an FHA loan for low money down.Happy to answer any other questions you have, just hit me up!

Cash on cash = total annual cash flow divided by total cash invested.Total cash invested would be down payment plus closing costs.Your ROE will be very low since you have been paying down the mortgage.

For me in the specific subject property I was asking for, I needed a long term (25-30yr) fixed rate refi, which is usually what I look for to keep my payments as low as possible.

It is a higher risk higher potential reward way to buy property, but it can go wrong especially with a low number of purchases.

If you are handy you could divide the closet with a solid wood 12” shoe shelf and have a high and low bar on either side...low bar removable for dresses.

If you are looking for rent to own properties you can sometimes find them listed on Redfin as FSBOs with very low prices to draw people in. 

DC is a tough market for first time low income homebuyers and increasingly so for those in the middle class.

I have a very low vacancy rate and I like to keep my tenants. 

The house was a brand new remodel in 2010 when we bought it so no “maintenance” other than cleaning gutters and low budget landscape that is needed.

Low property taxes.