If the IRR is good, and it's a 3-5 year hold, then a strong (1.75-2) MOIC is implied so I don't bother thinking about that particular metric. 

As Joe has implied this could be a legitimate person who is completely honest.

Also if it’s only increase in net total revenue collected by the local taxing district, that would seem to imply investment property can go up by more than 3.5%, as the 10% assessment increase limit on homesteads will force non-owner occupied real estate to pick up the slack. 

The cap rate of 8.73% implies NOI of $67,745.

To confirm I was not implying anything noted was, just saying be careful and make sure you know the rules 

Better option considering your implied family status is probably to find a SFR with an ADU or good ADU potential,  and go north around or just across the city boundary into lake city/shoreline/edmonds/mountlake terrace etc.   

I once had a portly tenant imply sex in exchange for her not having the rent.

Moving from another state is not a "big red flag" like others are implying.

In effect, I surrendered ("sold") my contractual rights to occupy more space for a "consideration" of $2,000 savings x 10 months = $20k.I hope you're not implying that my example creates a $20k taxable income for me.

BRRRR implies you want a long term cash flow play, plus some of your money back.