I can't even touch any of the money in it until I'm 59.5 or I separate from the district I teach in. 

Arlington though has descent appreciation plays, just not as good as in the District, and less so on the condos than other assets in Arlington.You do mention you want it for retirement income...so if you are going to self manage condos are a lot easier to manage than other types of properties.One thing I would caution is if the condo is at RiverPlace (I think thats the name) I would not buy it.

Here's a chart I developed about the impact of area/location on appreciation, cap rates, etc. and how you can identify each area (crime rate, school district, number of board ups):

(a) Prohibited conversions. (1) Except as otherwise specified in this section, in all districts: (i) no building used as a single-family dwelling may be altered or changed to be used for occupancy by more than 1 family; and (ii) no building used as a two-family dwelling may be altered or changed to be used for occupancy by more than 2 families.(2) For purposes of this subsection, an empty building is considered to be a single-family dwelling unless it was last lawfully used, in compliance with the normal bulk requirements of the district in which it is located, as a dwelling for 2 or more families. 

This is what can be done in Illinois: Answer the telephone, take messages, and forward calls to a licenseeSubmit listings and changes to an MLSFollow up on a transaction after a contract has been signedAssemble documents for a closingSecure public information documents from a courthouse, sewer district, water district, or other repository of public informationHave keys made for a company listingDraft advertising and promotional materials for approval by a licenseePlace advertisingRecord and deposit earnest money, security deposits, and rentsComplete contract forms with business and factual information at the direction of and with approval by a licenseeMonitor licenses and personnel filesCompute commission checks and perform bookkeeping activitiesPlace signs on propertyOrder items of routine repair as directed by a licenseePrepare and distribute flyers and promotional information under the direction of and with approval by a licenseeAct as a courier to deliver documents, pick up keys, etc.Place routine telephone calls on late rent paymentsSchedule appointments for the licensee (does not include making phone calls, telemarketing, or performing other activities to solicit business on behalf of the licensee)Respond to questions by quoting from published informationSit at a property for a broker tour that is not open to the publicGather feedback on showingsPerform maintenance, engineering, operations, or other building trades work and answer questions about such workProvide securityProvide concierge services and other similar amenities to existing tenantsManage or supervise maintenance, engineering, operations, building trades, and securityPerform other administrative, clerical, and personal activities for which a license is not requiredIn Illinois, an unlicensed assistant may NOT perform the following tasks:Host open houses, kiosks, home show booths, or fairsShow propertyInterpret information on listings, titles, financing contracts, closings, or other information related to a real estate transactionExplain or interpret a contract, listing, lease agreement, or other real estate document with anyone outside the employing licensee’s firmNegotiate or agree to any commission, commission split, management fee, or referral fee on behalf of a licenseePerform any other activity for which a real estate license is required

Some places I work I can do Same neighborhood (that many sell within 6 months)Same style (Colonial/raised ranch)Square footage +- 10%Year +- 3Garage spaces =and I have plenty to get a solid number of properties to work withOthers:Same school district oh gees OK countySquare footage +- 20%Year +- depending on age (something built in 1845 compared to 1904 is essentially the same place, where something built 1996 is different range than 2010)sold within 6 months.... uggh ok 9 months... ugggh ok 1 yearAcres within 10%..... ugggh ok what is acreage selling for there unimproved..... oK I'll adjust...And I am still doing adjustments for 20 minutesThink of it as more of an art than a science.Good Luck

Hi all investors I have a vacant house here in the District of Columbia and I just need to know what contracts to fill out to put it under contract can someone help me with some information Please.

I have some sites that can help with if it's in a good school district and such once I find one to target. 

Executives at the investment firms say they offer homes in good school districts to families that may not be able to buy in those neighborhoods because of damaged credit and tighter postcrisis lending standards.One of those firms, Progress Residential, is owned by a private-equity firm formed by Donald Mullen Jr., a former Goldman Sachs Group Inc. mortgage chief who oversaw the bank’s lucrative bet against the housing market a decade ago.

@Alfred Harrison, Drexel Hill is in Upper Darby school district so you can expect the same wonderful taxes with an Upper Darby address as you can for a Drexel Hill address. 0.0622429 total tax rate ($6224 per 100k of assessed value)...pretty steep.