That will likely be lower hanging fruit, while still involved, than trying to convince a lender to give you capital for some pledged loans while you are still fairly inexperienced.  

Keep your head up and hang in there! 

not until your license is safely hanging in your brokers office

People can't fault brokers/agents for working the low hanging fruit first.

When I get it, I will do your formula & give that number to the seller and when she hangs up in my face, I will be ok with that because I followed through. 

Doesn't seem like your analysis has any account of all the repairs needed to make rent ready.Sheetrock:  $25 to hang a sheet, $25 to skim/patch a sheet, plus the cost of each sheet.Paint: about $250 a room depending on how expensive you go with paint.Flooring: $2 - $8 a sqft depending what you end up doing Get all the mechanicals checked out as well.  

There's no other place quite like BP.Like Grant Fosheim and others, I see Snohomish county as having some of the lowest-hanging REI fruit around, especially for multi-family buy and hold.

But the owners aren't hanging out on message boards

My suggestion is to hang out with people who are really doing deals and much less time with the dreamers (although dreaming is important for goal setters). 

People hanging out, loitering?