I was reading that for DC once you have your license for MD or VA you just need to take one-evening course to get license for DC.I currently work full time as a property manager In DC (I commute from Southern MD) and have been in the industry for over 15 years.

No big deal I thought (while working a full time job and attending college),  I can do this on my own and have this done in three months max.

@Matt Snow Wow, someone after all this time finally answered my question in full detail with not only legitimate responses but intelligent ones which are cited sources.

And then once you go through the full cycle of renovating, refinancing, you can take the  cash out funds and buy the next property with it.Best!

They are paid in full, but there is no guarantee you will collect that back from the current tenant.

I just graduated and now work a full time job so I only have a limited time after work and on weekends. 

Make sure you buy based on present rent then bring the rents to full market to increase the value of your investment.

As to HOA debts/liens when the bank buys it back at their own foreclosure auction.....the bank is protected by the Safe Harbor statute passed in 2008 I believe.....they owe only 1% of the original mtg or 12 mo.s of dues, whichever is less, and the HOA has to accept it as full payment. 

I know that probably doesn’t answer all your questions but from our standpoint, we only do multi family, mobile homes and just a hand full of SF residences..we have never had a 4plex where every renter moved out at the same time, so relatively safe as far as that goes, much more than a SF that you cash flow is zero or neg when a tenant moves.

I just spent $16k on a full cosmetic renovation of a duplex to net 30% higher rental income.