Most of the houses we BRRR'd were dated with either finished or semi-finished basements.

This is a semi-luxury cabin with 7 bedrooms that can sleep up to 25 people. 

Hello Beautiful People of BP,I'm always attempting to think about the best way to keep progress moving forward, so I'm semi-planning out my next step(s).

that area is one of the areas of rural or semi rural Washington that was or has been in steep decline with the decline in the fishing industry and logging industry.. and so its an area you can find those beater houses that work for BRRR.. that used to be the case in Longview but that's got spill over from PDX finally and prices have really firmed up but its a tough rental crowd .. don't kid yourself..

Is this a sound strategy for my current semi-retired and future retirement living?

That is semi cheap for what we'd be getting in our area, but we need to come out of pocket almost 100k to have the opportunity.

The attraction to real estate is of course leverage and also your ability to control/improve the property and run it fully or semi-passive. 

Its semi rural and not very developed, like most of the areas on the outskirtsof KC, its moslty commercial with smaller pockets of residential.

your in for a fun ride on this one.. however the purchase price reflects..my question would be Sewer and Water ... is this all metered city utls or is it septic tanks and leach fields and well water.In our state any well with over 3 users and you need to start a water company and be regulated by DEQ  semi arduous task.. same with shared sewer.hopefully your on city utls.. and its moot.but other wise good luck I suspect you will have to do forced evictions..

I spent half of my time running a semi-legal Airbnb operation with a condo I rented month-to-month on Oahu.