Seattle area rental deals hard to find now?

[Jack B.]

I picked up three properties in the past five years that, due to the great prices I got them at, cash flow very well.

Of course now that the market has recovered, the price to rent ratio is not favorable. Not even outside Seattle, like Tacoma, etc.

It's frustrating as I would like to buy a few more properties but this area is a crap shoot for rentals at the recovered prices. Eventually I plan on moving to Florida where I will retire, not only because of the weather, lack of state income taxes, etc. but the excellent price to rent ratio. I can buy a house for 1/3 the price of the houses here and make 3 times as much money there cash flow wise.

Is anyone else giving up on Seattle real estate and looking elsewhere? Trouble is, I'm not sure about turn key rentals as I've seen some experienced investors like freedom mentor (Phil P) try them and get out of them, recommending that you be within driving distance of your rentals.