Hudson County best bets for small budget in '17

[Rocco Deltaco]

Hello,

Very new to the forum and currently renting in Ridgewood, NJ.  

Near the end of the year I'll be in a position to buy with a conservative budget of 175k and more of a stretch at 225k.  Looking for something in Hudson County where good opportunities may still exist.  I'm in my early 30's and single so a neighborhood that is a little gritty is okay if it is moving in a positive direction.  

I am considering a condo with the expectation that I'll make improvements where needed and begin to rent it after about 2 years.  

My question is, with this budget and a competitive market, will I be left with only a building / neighborhood with depressed rental income and renters that need a lot of oversight?  

Would I be better served to buy a house in another area so that I am not as limited in terms of making improvements?

I feel the need to purchase within the year because of the direction the market is moving and I don't want to miss the boat completely.  

Hats off to those who bought around 2010/11.  I purchased my first home in another state around that time and it worked out well although that real estate market is generally pretty flat.  In retrospect I should have kept it as a rental.  

Thanks for your insight!