The amounts these homes would command as long-term rentals is a small fraction of their current income.

If it doesn't stipulate the provisions for breaking the lease, you know it needs to be in there for next time.If things have been going smoothly and friendly, consider returning some pro-rated fraction of the deposit.Most importantly, you probably need the advice of a competent RE attorney ...

That's not a ton, compared to CA and NV and NY and FL, but it also doesn't lose much, if any, when things go south.Also we really don't have a ton of supply around here, as the big building uptick has been only fraction of what they used to be.  

You can still find cash flowing properties for a fraction of the price you'd find elsewhere in California.

I may have an opportunity to attain a commercial pilot's licence at a fraction of the normal cost (It would still cost me everything I've saved) by learning from a friend in Texas.

A calculated replacement of boards that have to be, proper prep and a good coat of quality exterior paint will probably add 10+ years of life at a fraction of the price.

The numbers would not support a full NNN purchase of any quality even with significant leverage but a fractional interest paying in the 6-8% range would be a good candidate. 

Only a small fraction of human communication is the words themselves, you just loose too much with written word sometimes. 

So a law degree would allow me to get a law license, that license let's me do some of the things I already do just with a little more authority and at a fraction of the cost over time.

The key is 1/4 of apartments in DOWNTOWN Seattle, which is only a fraction of the market and where new construction has concentrated.