Past performance is no indication of future returns.EDIT - Ok so I just did a quick scan of the greater Tacoma area and right now you valuation seems high at 1.4m.

Sounds like you need to have a relationship with a couple of good contractors, 40k for vinyl siding sounds high, what was the material cost.  

Definitely a strong location with great visibility and high foot traffic.Since it’s a NNN,  your expenses are minimal, but if LazyDog ever exits, buildout costs will depend on lease terms and the next tenant.

But the mortgage is still too high. 

Highly recommend Umbrella Insurance ^

I said that was too high for me and offered $170,000. 

While having high standards is important, it's worth considering that many Section 8 tenants might not meet requirements like a 640 credit score or $90,000 in household income.

The BEST contractors are in high demand, so are picky about doing bids and taking on jobs.

With today's high interest rates, it usually doesn't make sense.

To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.