This is after covering all expenses and setting aside a certain amount for reserves to cover future expenses like capex or vacancy. 

Less than 10 minutes and they are done.Self Managed, Low Volume - these folks collect the same rent every month, have minimal expenses beyond their mortgage and find it very easy to collect the few documents they have to report it. 

I do need a property that is not very expensive, which is why I have been looking into Clevland due to their low selling prices and high appreciation rates.  

The most expensive piece we bought was the La-Z-Boy queen hideabed couch.

Most lenders will add back in depreciation and around 1/2 of your milage expenses.

I would search for a property that has a low interest rate Fha or VA loan.

It could be 50% high, 50% low or right on the money but no matter which of those three it is makes no difference.

If you want to buy your first property ASAP, house hacking (duplex, triplex, or renting extra rooms) is one of the best ways to start with a low down payment while learning property management.

Two of the biggest challenges I face are that I’m not very liquid at the moment, and the Seattle area is extremely expensive.

Let's talk,DanIve actually been looking into buying a condo myself as an investment, I have a few rules, needs to be with both good hoa management & relatively cheap fee (bellow $600 a month) needs to be in area where I’m not competing against other new construction apartments, needs to be an area where even townhomes are so expensive you are not competing, I.e. upper nw, nova, Bethesda etc. needs to be 1990’s or newer in most cases.