If your net income is 50k, the Cap Rate is 5%. 2 years ago, 10% is feasible, nowadays, 5% is more likely. 

How is the real estate market in the Tri-cities nowadays ?

I walk around with many catch phrases to express my points nowadays one of my favorite ones is inspect what you expect.We had a deal where we funded the construction of a sub-division.

If I were you I would install surveillance cameras like the ones we see at Costco if you have a tenant willing to deal with it, they are very cheap nowadays.  

Nowadays, anyone with a computer & printer can print you a check of a few trillion dollars.If you still have any doubt, google the bank that issue that check, call them up and ask to verify the check.

VA loans haven't always had the most competitive rates so maybe that's why you heard not to go that route but nowadays they are one of the best deals going, especially with the no money down benefit. 

I agree it seems like finding a good contractor nowadays is very hard!

With that said, don’t go for the cheapest house in the market, anything sub 50k nowadays can be a nightmare.

I see cities like Seattle allowing you to erect additional buildings on your lots without much pushback.

Nowadays, sellers agents have to do their market research.