This is a short sale in the Michigan Park neighborhood of NE DC. $319K is a reasonable price to pay for a single family over there. Homes in this area have sold for as much as $500K. Area has a ton of up side.
This is another short sale opportunity in Petworth. This home has been on and off the market a few times. Homes just like it are selling for $499K fixed up. If you keep the costs down this is a good investment. Will have to wait for the short sale approval.