Looking for suggestions on where to find MFRs for cashflow in WA

[Pete M.]

Hi all,

I'm an interested investor currently living in the greater Seattle area.  With the Seattle market as it is, I'm looking for the suggestions on where to hone my searches for multi-family properties for cash flow.  If people are having success with these numbers in Seattle, that's great, but I'm also thinking looking elsewhere is worth it--to areas like Spokane, Tacoma, Yakima, etc.  While I'd love to jump straight into a 30+ apartment complex for economies of scale, I figure it may be better to bite off a smaller 2-4 unit property to start, which will help me learn the ropes, build the systems to scale, and establish a track record.  I have some equity and conventional loan pre-approval already, so I'm ideally targeting properties under $600k (preferably much lower, as I don't want to blow all of my equity on the first buy), 2-4 units, mostly cosmetic facelifts (will entertain more thorough work, but don't have an established team in said area yet, obviously).  Since I'm working full-time w/ W2 income, I'll need to use a PM.

Thanks in advance.