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.

Indeed - I see bright future for North Carolina as a whole and for all major population centers like Charlotte metro, Research Triangle (Raleigh-Durham-Chapel Hill) and the Piedmont Triad region (Greensboro-Winston Salem-High Point).

Depending on your risk tolerance and investment goals, exploring short-term Treasury Bonds, high-yield savings accounts, or diversified alternative assets like private lending or REITs could also be worth considering.

Additionally, high-income earners with modified adjusted gross income (MAGI) over $250,000 (married filing jointly) may be subject to the 3.8% Net Investment Income Tax (NIIT).For 2025, bonus depreciation is at 40%, so consider leveraging it for eligible property assets like appliances or fixtures to accelerate deductions.

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.

Your credit score is high enough to get something done, but whether or not that delinquency will fly is going to depend on the lender/underwriter.

Real estate syndication investing is still quite valuable as it can offer higher Returns than investing in public REITs but not as high returns as direct ownership and management of real estate by some experienced people, but with the benefit of being far more passive, than direct ownership/management. 

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

Highly recommend Umbrella Insurance ^

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.