Looking for an affordable rental for my daughter in Seattle area

[Fay Cambridge]

I’m a New Mexico investor visiting Seattle to help my daughter has an immediate need for an affordable apartment, condo or small house to rent. After a week I realize I need help navigating this market.   My daughter is a single mom of two with a good rental history even through the pandemic.  She has a new job near downtown.  She needs to be in a safe environment, so she’s thinking Lynnwood, Bellevue, Redmond but we are open to suggestions. 
Please message me with your suggestions, ideas or rentals. 

[Kevin Romines]

She can get an FHA loan on 1-4 units and you can be on the loan as a Non-Occupant Co-Borrower to help with the income and the debt ratio. Because she will be collecting rents on the other 1-3 units, she can immediately count them to help her qualify for a higher purchase price. When the loan is closed, she will be able to live close to rent free or possibly with a little monthly cash flow. She can refinance it into her own name once she has enough income (also counting the rents) and the Loan to Value is at the correct level to get rid of PMI, 20% equity or more.

I hope this helps?