Advice needed: investment strategy in the greater Seattle area

[Becky Y.]

Hi all, I'm a newbie to real estate and have been looking to get a buy-and-hold property around the greater Seattle area since beginning of this year with no luck, and I was hoping to get some advice ...

What I am looking for:

1. A buy-and-hold single family home in an A/A-/B+ neighborhood around the greater Seattle area with good schools that is not too anti-landlord. So far we've been looking at Shoreline, Edmonds, Lynnwood, Bothell, and the east side. 

2. Cap rate >=4% and monthly cash flow >= $200 with a 25% down 30 yr fixed conventional loan. 

3. Little to no update work needed. 

Questions:

1. Are we looking for a unicorn? Is Seattle the right market for this?

2. Is there something wrong with our criteria? What should we change?

3. Regarding criteria #3, I've been thinking a lot about it lately. We have this one because of fear of our own incompetence -- my husband and I both have demanding full time jobs with two very young children, AND we are newbies to RE, so we feel we are not capable of BRRRR. To do BRRRR, I need a partner. Where should I start?

Thanks all!