it’s fair I guess at some level.I would tell the $500/hr place to go fly a kite.  

I used to own three rentals in Seattle but after 2012 when the prices got too high I realized that sophisticated buy-and-hold investors invest where the numbers make sense with cash flow, not appreciation (gambling).

Not meaning to be rude, but the fact you asked that question as a landlord is not only irrelevant and offensive to a lot of really great people, but it violates about 50 Fair Housing Laws and Statutes.

Fairly speaking, the price, location, other metrics look amazing, even the potential cash flow per month.

HUD 'Fair market rent' for 44306 is $1230 all utilities included so you ought to get 950ish from section 8 if you don't supply any utilities (Hud small area fmr is 40th percentile rent in the market).

There is a fairly new 20% pass through deduction you may qualify for that could help you, but not everyone qualifies.

I invest in Boise, ID, which has fairly similar ratios and returns to what you see in SEA.

At the same time, I have 10 listings right now, priced fairly, that aren't being flooded with buyers.

Hi All,Our tenant's lease requires a 60 days notice, she only gave 30 days notice, and we immediately started advertising the property and were able to secure a tenant fairly quickly where her lease ends on June 30, 2024, and she has already moved out as of June 22, 2024 after paying the rent for the month of June, and the new tenant will move in on July 1st, 2024. 

Unfortunately some of these costs are fairly close to fixed whether you are renovating a $250,000 or $5000,000 house which makes it even more challenging to operate in the lower cost housing space.