This is a great post.I was also looking at Packwood WA for STR investments and noticed that the occupancy rate has been low.

I never noticed, but this is pretty smart marketing. 

One thing I’ve noticed is how many licensed agents don’t fully understand the contracts they’re using or the local real estate laws.

On top of the 2 that are ongoing, I'm permitting for 2 new builds, and I noticed that pool prices came down a few bucks, and my truss prices were 30% less than when I started building 6 months ago.  

Quote from @Nitesh Chand: This is a question your property manager or realtor should be able to answer for you.Since the tenants have occupied for less than a year, I believe you have to give 60 days notice to the tenant before you can list the property.

If you don't care about income and are more of a capital gain kind of guy, prices are already high (as you noticed) and there's plenty of land available to buy so I'm not sure how much is left in the tank.

Additionally, ensure that all necessary notices for filing an eviction have been posted and properly documented in your records.

Quote from @Jin Zhang: You initiate the process by filing a 3-day Notice.

But it’s something I tailor the business plan to just in case.So your investor could get caught in having their loan called with not a lot of notice if things change.

Wholesale, foreclosure, and seller financing can work too, but I’ve noticed that careful analysis and having reliable local contacts often deliver the best results over time.So as you two gear up for your first flip, how are you balancing the potential risk with your long-term goal of buying rentals?