Appreciation is driven by demand outstripping supply, and cost of new supply. 

The supply of rentals would be impacted, but the final impact will depend on the local market.

Investing in multifamily properties offers steady cash flow, diversification, as multiple tenants reduce vacancy risks and provide consistent income.

Additionally, the supply of homes for sale is constrained because of this and will be for some time putting upward pressure on prices in most markets.Thinking about renting your house in Seattle would be wise as someone else will pay the mortgage down, and rents and the value of the property will go up over time.

I just did a quick search of the area and there appears to be an ample supply of properties with an average rent of approximately $1.10/SF.

Then you'll have to supply a lot of expensive wood for that fireplace and the outside fire pit. 

.-- The influx of STR supply has certainly brought down Airbnb revenues the last few years for everyone.

They opened up every locked closet and storage area we had for replacement supplies.

Just get it under contract as quickly as possible... an multi- page realtor supplied purchase contract often does not afford you the luxury of time.  

So Supply and demand have really shifted quickly.