It's amazing how that city has been progressively transforming, and even though it's got its bad parts it just feels like there's tremendous opportunity there.One thing you'll want to check in Tacoma is ground pollution, especially in single family homes that you're planning to use as rentals.

Thanks for helping me realize that even though my first deal may not go as planned it's a great way to hit the ground and began running!

You do have to have boots on the ground such as agent, contractor, and property manager.

Where are the prices now compared to when they bought them?

@Trevor Lohman - there is a very interesting discussion on crowd funding going on right now (http://www.biggerpockets.com/forums/520/topics/105106-comparing-crowdfunding-sites-for-re?

All residential properties (1 to 4 units) are valued based on the comparable sales approach (using "comps").

To compare, I looked into rental furniture for doing the staging set up ourselves.

After deductions for management of 5% (seems low), vacancy rate of 6% (100% occupied now), 14% for maintenance to units, $195 monthly HOA condominium fee for all exterior grounds, parking and h20, sewer, insurance, pool, trash etc.

In my opinion you should look anyway to compare rates. 20% seems high but again, I'm not in the vacation rental arena so that my be normal.

Hi everyone, My name is Ken, I live in Palm Coast Fl, and just became pro last night.. Motivated ROOKIE here, eager to learn; looking forward to the journey, thanks!