You're in charge of this hands-on approach.

If you're only doing a couple or so transactions per year probably ok.On the other hand, you can have more control and eliminate the need to go through a custodian for investments by the use of checkbook IRA or Solo 401k.

Wenatchee area hands down. 

Please note that contrary to common belief a lender can NOT prohibit a transfer, they could only declare such transfer a item that allows them to accelerate the note.Up until now, very few notes have been “called” due when title has transferred.  

It is also worth noting that property management is often closer to 30% of gross rent for a short-term rental due to the much more intensive hands-on management compared to a typical 10% for long-term and as such, I agree with recommendations above that medium term rentals may provide the best of both worlds if you are able to tailor proximity to a local need, e.g. hospitals and travel nurses.Again, happy to relay my personal experiences in the area if you're interested.Best of luck,Patrick

On the other hand, a greedy, shadier lender can set you back. 

One thing to consider is how hands-on you want to be.

With 400K my initial thought is doing a BRRR/Flip that is close enough for you to be hands on.

We've got him red handed.

The whole refinance process is not clear to me as I haven't gone through it myself or see it first hand with a client of mine doing it.