i also see an emerging CHEAPER market near the ferry terminals on the outer lands from seattle..ive talked to a handful of Agents in that area and i want to know from you guys think it would be a good move to start my investing career.im currently in the "now to find how to get finance" phase so things are moving.been studying BP podcasts for near 6-months...Thank you all !

The only reason I am considering it is because my sister just moved as well and my parents are only home in the summer, so I really do need to have an emergency person who will be here. 

I've had a few discussions about the best way to create a plan in order to "snow ball" your way to owning many REI properties (buy and hold for rent).After Googling around and even reading blogs on this site, I've thought about doing something like the following:Buy my first rental property (SFH) with cash (around $60-70k) where I'd expect about $500 cashflow per monthCurrently I have about $105-110k available (after taking out an emergency fund)Then shortly after, buy my second rental property (SFH) but take out a mortgage and put down around 25% on a $60-70k houseThe cash flow on this property specifically would likely break even (at or near 0) but this would be on a 15 year mortgage and I can use some (or most) of the cash flow from the first to help pay down that mortgage faster, along with my corporate job monthly savings tooI feel I could pay it off anywhere from 5 - 10 years depending on the exact strategy If/When I get the 2nd one, then shortly after that, try and get a 3rd SFH rental property and continue this snow ball effect to build up by rental portfolioObviously this is easier said than done, along with risks and I honestly do not have any real experience with rental properties as this is my first time diving into this type of investing.My main questions would be -- Has anyone done a similar strategy to help build their portfolio quicker?

But part of it was also due to the location emerging.

I would think if you're renting a basement you have to have an emergency exit.

The deals are there in the beginning for displaced, panicked and uninsured people FSBO because they have no emergency fund to pay for rent and a mortgage.

We aren't even close to depleting those funds yet, but I try not to use them and save it more for an emergency situation.So at the end of the day I'm not worried about having to fork over money for the repairs.

Ally savings (where our emergency fund is for our home @ 1.9%2.

We walked this property today, but couldn’t get inside because our realtor had an emergency.

My goal with this approach is to use lower living expenses to improve my day job cash flow and begin house hacking where market values are low enough for me to "start small".In the spirit of collaboration, I'd love to take this chance to share the latest draft of my emerging investment strategy for feedback.My "Why" and CF Goal:I love not working for someone else, and I'd love to travel without someone counting my days out of office.