Healthy rental rates and low vacancies are common here.

I have enough cash for a healthy down payment, but a freelance income as a writer that's not "great on paper."

It's a great investing environment here, lots of activity and like all the others said the strong military presence keeps a healthy flow of buyers, sellers, and renters!

So if you look at a deal and see sponsor is co-investing, making their money on performance, and the general deal works and still Investors getting a Healthy IRR. 

@Jeff Sprunger,The VA does have strict guidelines with the major one being it has to be safe, healthy and livable condition.

If you don't own the lot free and clear, it's still possible to use the equity in it, if when purchasing it you have a healthy down payment, and the seller agrees to "subordinate to a construction loan", which gives the construction lender 1st position.

As long as the cash flow exceeds all expenses by a healthy margin and increases over time, do you really care that much about price fluctuation?

I want to flip houses with an emphasis on energy efficiency and green, healthy improvements.

Our budget here is the same.Once all the internal bits are done we will reside the building - and are planning to add another 1" of polyisocyanurate hardboard insulation {which will require removing and resetting the windows we just installed to adjust for the new wall thickness ... a little rework that we have not found a way to avoid {yet}]Once all the above has been completed, we will conduct our "post retrofit" energy audit to see if we hit our target of scoring 75+ out of 100 with fewer than 3 air changes per hour.As you stated, the long term goal is to keep our buildings attractive to tenants by making them healthy, efficient and modern (while retaining their historic charm) homes as energy costs rise.

I've noticed a steady increase in most Washington & Oregon state MFs to the point where these properties don't even come close to meeting the 1% rule & would actually be breaking even or taking a loss if purchased.Are there any other cities/counties in the PNW (or elsewhere) where there's still some prospects for healthy cash flow?