Thanks for the posts and graphic!

It helps being an investor as we are looking for distress anyway, but for a buyer looking for cute it’s very hard.Closing costs for the loan are almost double.$8k for $200k home.

Btw, I am a graphic designer if there anyway I can help you please do not hesitate to contact me.

Additionally, based on the info graphic, it appears you would be buying in somewhere near the top of a real estate cycle. 

The larger unit would go closer to $1200 a month probably, if I could get it rehabbed (~2000 sq ft).This is a C-D class property at the moment but with some TLC could be very cute, and based on the price it seems immediately flippable for 20-30k, with the seller still getting plenty of value.What am I missing?

This is just my personal opinion and certainly there are more experienced investors here, but I think that catastrophic failure (bankruptcy) occurs when you try to get too cute with financial engineering.   

I went to college right outside Newburgh and I remember it as a cute town! 

Sultan is a cute, quiet town (population 5,000+ compared to Snohomish's population of 10,000+).

John is a middle-school teacher and Jane works from home as a graphic designer. 

Purchase price: $78,000 Cash invested: $20,000 I bought a cute 3 bed 1.5 bath home in the middle of the pandemic.