In the city the regulations are also a risk as you don’t know what the council will do next, and they are extremely tenant friendly.Generally the area is good though, we tend not to be affected by recession as bad as the rest of the country and most areas are safe.

These are typically public hearings before the Board of Adjustment (may go by another name in your area), or City Council. 

The city council adopted a list of priorities in 2018 and the top of the list was zoning enforcement.So far you're on the right track.

Fortunately, through banding together and forming a short term rental alliance, we were able to work with the city council to stop them from making all STR's illegal unless they were in your primary residence. 

@Brian Hughes  : The table on this Seattle City Council page shows the proposed changes.

The briefing will be followed by PSC work sessions, with a vote on their recommendations to City Council anticipated in March.

- MLK ave city council house around the McDonalds area, MLK lightrail station

It might be a conditional use but technically, the City Council shouldn't be interpreting this based on what they want to see but rather on the code requirements and that you meet and conditions to the use. 

I suggest being on top of all the updates and continually be involved with your city planning council if you decide to pursue in the area.Curious, how did you raise the capital?

From one of the council members: “For those of you that read the article in the paper.