I can't speak too much to the market on the Westside, but as far as affordability on the West Coast Spokane is worth looking into.

While you work on that, you could also explore creative financing options like DSCR loans or partnerships to fast-track your first STR.

The views are breathtaking and offer some of the most dramatic combinations of beaches, dunes, rivers, lakes and mountains.

By reducing the principal balance, your lender recalculates your monthly payment based on the new, lower balance.How Does Mortgage Recasting Work?

Why would they offer you 5% for 20 years?

There are even ADU grants being offered.

We had been negotiating for weeks, during which he asked me to draft the offer based on his price and terms and requested over a week to review and accept it, which I honored.

Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.

Start with Reonomy or Costar to identify all the 100+ units in your target market (on and off market) and then see if you can get into direct contact with some owners.

You also only pay interest on the amount you use.