Analysis Paralysis!!! Please help me narrow down criteria for finding Cash Flow SFR/MFR in the Greater Seattle/King County Area?

[Kevin Chan]

Hi there,

I've been actively searching for rental properties for the past month and i'm afraid I've gotten a serious case of analysis paralysis! - I'm hoping you experienced investors out there can help me narrow down the criteria for identifying the right properties/deals for long term rentals and actually get started.

Here's my background:
- I make a very good income, have an excellent credit score and do have cash reserves set aside. I work full time and intend to stay in my well job.
- I currently own my primary residence with a mortgage.

Here's my objectives:
-My long term goal is to own up to 10 rental properties (emphasis on SFR or duplexes/triplexes or quads if I can find them) in the Greater Seattle Area or King County that cash flow and use the remaining cash to pay down the mortgage with some reserves for maintenance.
- Greater Seattle area is expensive so i'm willing to go further if it makes sense
- I intend to use a property manager and will structure the model accordingly.

What have I done do far?
- I've joined a Foreclosure Group (www.vestus.com) and have gotten pre-approval from a couple mortgage brokers - they anticipate I will haven no issue borrowing up to 10, beyond 4 they said the rates go up.
- I'm also going to reach out to other similar groups and brokers. I'm new to this so I don't know of other sources.

Help that I need:
- How do I narrow down the criteria for identifying and selecting rental properties? What sources should I leverage?
- I've built a spreadsheet to model cash flow, expenses etc, but I'm wondering if anyone has a core checklist for ideal criteria for rental SFR/MFR?

Appreciate any assistance. Thanks

Kevin