As with any investment, thorough research and due diligence are essential to making informed decisions and maximizing returns in the competitive real estate market of Spokane, WA.

They are very competitive but still there.

Will mean a less competitive landscape for landlords that do consult attorney's and follow the provisions. 

Which do you think will be more competitive, buying from wholesalers or your own referrals?

Option 1:30 Year FixedLoan Amount $202,500.00LTV 75%Discount Points %0.00Prepayment Penalty (3/2/1)Interest Rate % 8.225Origination Fee % 0.00Underwriting Fee $1,645.00Monthly Mortgage Payments $2,018.76Broker Fee % 1.25Cash From Borrower $78,081.01Option 2:5/6 ARMLoan Amount $202,500.00LTV 75%Discount Points %0.00Prepayment Penalty (3/2/1)Interest Rate % 8.025Origination Fee % 0.00Underwriting Fee $1,645.00Monthly Mortgage Payments $1,990.40Broker Fee % 1.25Cash From Borrower $78,052.65Seems like some competitive terms - nothing out of the ordinary that I see.

.- Competition can and actually will increase in bad times, because people who own casually for second homes will try to get something instead of nothing by listing their properties for the first time.- People will fight to give everything they have to keep their primary residence, but if their second or vacation home becomes a pain in the rear, they’ll sell.

I do know that it is very easy to make tax lien investing sound great but it is a tough competitive business.

Paying all cash was simply to have a competitive offer and get the property at a discount.

You as a buyer, need to be willing to be competitive in a competitive market, and that is where a great agent will shine.  

Don't forget to look at the rental comps as well, closed and available to see what your 'competition' is up to.I always go for a mixture of tough/durable and nice fixtures in my BRRRRs.