Buying condos as rentals in Seattle?

[Ben Lukes]

Is anyone buying condos in Seattle, renting them out, and getting positive cash flow (and if so, how much)? New condos (this cycle or the last), or older condos (prior to last cycle)? What areas are working for you? I've been looking around Ballard, Magnolia, and Queen Anne Hill (areas I am most familiar with), and it looks like I might be able to get some deals to be cash neutral or moderately cash positive, but I'd love to hear if others are already doing this. Given the appreciation potential in this area I really only care about having enough of a cash flow cushion to comfortably reduce the chance of going negative.