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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you’re looking to buy rental properties in “up-and-coming” neighborhoods with problems with crime just buy in Baltimore, where you can get a lot more return on your investment. I bought a house for less than $200k in Remington that has a $1,000 mortgage that I’m renting for $1,750. There is nowhere in DC that I know of where you can get that kind of ROI.[/quote]

Yeah.  To be a good investment house you never pay more than 100x monthly rent.

Also make sure you put it into a LLC.  Not your name.  [/quote]

If you put it into an LLC in DC and it was built before 1975, you can't exempt it from rent control.

OP, if you think you want to be a landlord in DC spend a few hundred dollars for a consultation with a landlord-tenant lawyer. Go to landlord-tenant court one day and look at the attorneys who do so much business there that the court has set aside specific offices for them to meet with opposing parties, and pick one of them to talk to.

Prepare to deal with OTR (personal property + income taxes), DCRA (inspection), DHCD (rent control exemption), and DOEE (lead abatement) at a minimum. Being a landlord can be good money, but it's not easy money and it comes with a lot more risks than a CD or a mutual fund or a REIT. [/quote]

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