I love Mt Ranier, but the property tax rate is crazy.

Success rate. 

I think this depends on your risk tolerance and your interest rate.  

I am looking to connect with the investors there as the promotors are continuing to take Asset Management fees to the tune of $450K a year (on top of PM fees) even when their payout to the investors is around $20K a quarter (not meeting preferred) and the overall fund is negative about $450K.

You will find rates all over the place just like with all insurance.

Long term interest rates should continue to increase.  

However, with high rates, the next mortgage would be very expensive, and a vacancy would be intensely expensive with two mortgages.

It is hard to really keep up with those kinds of trends unless I budget 10k a year in updating the property which I am not going to do.I participate in our local council/mayor meetings.

Quote from @Brad Kremer: Hi everyone,I own a cash-flowing duplex in Austin, TX, that I bought 8 years ago when rates were considerably lower than they are today.

Hey @Brett Baker, generally, any place with a great water view or directly on the water will bring more revenue.Of course profitability will all be based on purchase price and prevailing nightly rates in the area.If you find a cool 2/2 or 3/2 right on the water with a great view for 1.5m or a 2/2 or 3/2 house a block away for 600k, then I would look at the house over the condo.