Such properties often turn investors with good intentions into slumlords, cutting costs increases profits but later on it can cost you in various ways, city officials, legal issues, insurance can go up, quality of tenants goes down, a property can become a liability.

I drove by the property and the exterior of the building and the rest of the property seems to be well maintained.

Hello BP this is my first official question to the group and I would like to thank everyone for making this site such a wealth of information that is accessible to those just starting out!

Hello BP this is my first official question to the group and I would like to thank everyone for making this site such a wealth of information that is accessible to those just starting out!

How does the rest of the process work?

Competition in the DC metro area (like most of the rest of the country) is fierce for beat up properties that are priced well.  

I know a student relationship isn't asked below, but it probably should be.Now, I've been on bus tours but with national organizations of government housing officials, pretty dry, but it is good to see and even interact with a neighbor if there is time and you can get away from the tour guide.

The rest is history!

I agree with others who said to get a 2 to 4 unit property, live in one unit, and rent out the rest.

Hello all-  I bought and am gut-rehabbing a 1923 Sears craftsman-style bungalow to hold as a rental.  It's a 3BR, 1100 SF, and will have 1.5 baths.  I'm deciding whether to take down the (non-bearing) wall between the...