I'm specifically interested in acquiring a rental property within the $800k to $1.2M price range in Washington state.However, upon evaluating rental properties in the current market, I've noticed a concerning trend of negative cash flow.

How do I go from where I am to where they are instantly…It’s a slow progress, but once it starts rolling you can’t believe how fast you make progress.

@Trace Adams are you using the BP Calculators to evaluate rentals?

Hi Justin,I am looking  forward to following your progress.

When evaluating new properties, when you underwrite expand certain line item like tax and doubling insurance coverage.That being said, I'm not sure where you stand in terms of net worth.

Performing proper due diligence and evaluating properties carefully is key, along with securing financing and finalizing the acquisition.

The first order of business when you acquire a property is evaluating RISK MANAGEMENT of your property.  

.), but NYC is a tough market to operate especially when tenants become trouble.. would say standard eviction timeline is currently around 18 months, it's a nightmare when it happens that's why we are very well set up and we make sure to have a good relationship with tenants, (we can talk about NYC a different time,) bottom line it is a market with practically no vacancies, and crazy good rents, but very challenging to operate.All being said, I am looking to evolve into different markets, problem is I have no idea how evaluate a market and what I need to consider and how to even do market research on anything outside of NYC.. so, I would appreciate for some input on how to find deals, understand and underwrite different markets. 

Before proceeding, I am seeking your expertise to evaluate whether this investment opportunity aligns with sound financial considerations.

I would definitely hire a management company if I plan to rent the property.Back up plan is to stay there two years, sell the property and avoid paying taxes.Fellow BiggerPockets community, I would love some advice on evaluating whether I should flip the property to reinvest in a bigger home or multifamily unit or rent the property with a management company?