Now we're starting to reconsider....To be fair, our house is almost 100yrs old, so we understand that "things" will happen.  

You may want to dig deeper, inspect more thoroughly, and reconsider the comparables - a very unreliable judgment of the considered property.Surface numbers can be deceiving.I also strongly recommend becoming much more familiar with owner financing, especially the legal aspects, before you ever consider using owner financing.

Time to reconsider :) Again, thanks for sharing :)

If not, I would suggest reconsidering a partnership.Too many people assume that if you throw a couple new people together, they will be better positioned than if they acted individually. 

@Chris Mason and @Robert PerryGreat points - makes me seriously reconsider getting into a new build, especially since it would be my first.

Should I reconsider and look into that listing?

I was looking to buy and hold as I'm trying to build a portfolio but if I can get 30k with a renter in, I may reconsider.

However, if you are in King County, you can only terminate a rental agreement "for cause" and can not use the 20-day notice.I strongly advise you to reconsider your thought of switching to an annual lease.

The fee increases have affected me, and some of the new ordinances have made me reconsider properties I was considering purchasing.

Oh, I'm finding out that I do have some passion for this kind of business ;) Thank you for your input.To reiterate what I think Alex was saying, I would reconsider holding them for 5 or so years ... the market is hot now, you have a stepped up tax basis, you just put $100k into $400k worth of what sounds to be fairly low quality C-class RE (no offense intended) that you may or may not be able to recoup, and if you wait and the market turns (very likely within the next 5 years), you may have to wait 8-10 years before you get a better selling opportunity and price than what you have today.