@Marcus Stokes, house flipping is a full-time business operation, even with current market conditions.

I totally understand and acknowledge the idea of investing where you currently live. 

I currently work with investors building their portfolio with Turn Key investments.

Currently we have titled our 16 properties in 4 LLCs and we have a 5th LLC where we manage our properties.

Currently renting a room at my primary residence for some mortgage offset.

As Vince said it is a quick guideline and won't work in most places with current interest rates and house prices. 

I always asked first, and never had a landlord refuse.It drove me nuts that I had no idea how many copies of the keys to my current front door were floating around in the world.

Currently being leased, but expect my total cash on cash return to be above the number I target.

If a Room for Rent is worth $1000/month, then reverse amortization at current interest rates between 6.5-8.5% for 30 year mortgage would set the price between $130,000 to $158,000.

As a beginner investor based in the Seattle metro area, I'm eager to learn from your experiences and share my journey as I get started in this field.My current strategy is to focus on live-and-flip for the first three deals (looking for my second deal) to gain hands-on experience while building equity and learning the ins and outs of renovation and the local market.