Once you narrow it down, start with small jobs to test their reliability and quality before giving them bigger projects.Building a solid network takes time, but having dependable people on call is a lifesaver for your rentals.

It will be highly dependent on the district and licensing.

Past performance is no indication of future returns.EDIT - Ok so I just did a quick scan of the greater Tacoma area and right now you valuation seems high at 1.4m.

Now that is a very high level example but the appreciation is not gone if that makes sense you will capture the ballpark same appreciation if the properties are comparable.  

Property TypeUnderstand the different types of multifamily properties:High-Rise: 9+ floors with an elevator, often urban.Mid-Rise: Smaller than high-rise, usually with elevators.Garden-Style: Low-rise apartments in suburban or rural settings.Walk-Up: 4–6 stories without elevators.Manufactured Housing Communities: Mobile home parks where land is leased to homeowners.Special-Purpose Housing:Student Housing: Designed for college students.Senior Housing: Dedicated to older adults.Subsidized Housing: Affordable housing supported by rent and income restrictions.3.

Recognizing their critical role, the Best-Performing Cities (BPC) index evaluates the relative economic performance of 403 metropolitan areas, providing valuable insights into the strengths and vulnerabilities of these economic powerhouses.The BPC index utilizes 13 key metrics, combining labor market conditions, high-tech industry growth, and access to economic opportunities.

I was a commercial lender for over 20 years and hotels are high risk / special use for most banks.

With that said, I've done some research on the market and found the following information helpful in my considerations for Phoenix that you might find helpful as well:  Demand for both buying and renting property remains high due to the city's strong economy and growing population. 

And you get feedback at a level high enough to determine how to proceed. 

Having toured some of the most prestigious, expensive and historic estates and properties from Brookings to Astoria, there is still considerable investment opportunity at the very high end of the luxury market.