By then, if you’ve done it right your cash flow and equity should be good enough to make the jump to Montana.Option 2:  owner occupy a single family or condo (all of these options , including multi family) can usually be done with a low down payment FHA loan which also allows gift funds if you need and can get help From a family member) — depending on where you are in the Seattle area, your appreciation might be strong enough in a couple of years to borrow against (or sell) and begin stretching out a bit.Then it’s all about finding an excellent property manager in MT, and if you can’t find one where you want, look somewhere else!  

I guess what I mean is that the calculations are all very helpful to determine if a rental investment is going to be a good deal but that is all dependent on the property renting. 

Hi @Jon Holdman,Depending on the area of Shoreline you looked at, 30 mins at 9am might be pushing it. 

Depending on how big/small the porch is you could check with local flooring supply companies and see if they have any floors that they want to get rid of or can’t sell, buy it for cheap and use that.

Down the road and depending on what happens with the rest of the area you may want to do a repositioning-heck you may get an offer from a neighboring investor.

@Brandon Stewart It's dependent on the housing market.

Usually non-recourse debt begins at the $2mm mark or so, depending on the property type.Your best course of action would be to find a private individual that will lend you the capital, or raise it, and have it specified in the loan documents that this mortgage is non-recourse.

And depending on how the garage was converted, you might not need to tear down.

When I was analyzing deals in the Private Equity sector, I saw everything from 26% - 42% IRR needed depending on the size of the company managing assets, additionally how many Management/Fee company's are factored into the business model and at what point in the expense model they're collecting fees.There are payroll, Marketing, Office space, etc... now a part of your business model, acquiring an asset for cashflow becomes a small part of your equations. 

YUP depends on the parkis this city sewer and water.. ?