They don't need as big a spread as an investor and may be buying strictly on emotion. 

@Max Tanenbaum - I am concerned because I keep hearing about very strict DC tenant laws and everything I read about DC renting makes it seem like I am going to get sued for something if there is more than one applicant (and I am sure there will be given my location!).

The only thing I know about Kelso is that there cops are pretty strict about speeding on the highway @ 2am. 350$ lesson right there.

Miss snowboarding, but being back in the islands...can't beat it unless you strictly look at cost of living.  

They are very strict and a bit crazy.

You will have ongoing routine maintenance and make ready costs between tenants. 

Is that strictly for apartments? 

In some areas, such as Australia, China, New Zealand, the United Kingdom, and a few U.S. states, new suburbs are routinely annexed by adjacent cities.

With a recourse loan, the lender can seize the collateral securing the loan and can also go after the borrower's other assets to recover the monies owed.To your question, yes, lending guidelines will typically be more strict and rates can be slightly higher, but it's often in the borrowers' best interest as your assets are better protected w/ a non-recourse loan than they are with a recourse loan.

Also, it seems that the HOA would sort of routinely send out notices of intent to lien for people behind on dues.