I would agree with most of those characterizations taking into account that within each zip there are small pockets that are better or worse than the rest of the zip.

I'm really taken aback by your accounting of what happened and your characterization of my company.

Jeffrey, I have a problem with your characterization of wholesalers as "bottom feeders".

I love this market because as has been mentioned here the fundamentals are strong, by which I mean there's a diverse economy characterized by durable industries including tech, healthcare, manufacturing, distribution, etc, there's population growth with young professionals moving into the city, the cities are walkable and well planned, there aren't natural disasters such as hurricanes, fires, earthquakes, etc, to worry about, and the quality of life is generally high.

@Brandon Hall, I just had a CPA/tax attorney tell me that for Section 1250 property (real estate) that was amortized straight line (as essentially all investment real estate has been for many years), the accumulated depreciation is not characterized as "recapture income" at time of sale, but as "capital gains" with a special rate (up to 25% vs 15% cap gains rate).  

Steve T. you are somewhat correct in your assessment however while the characterization of a neighborhood from good to bad is also subjective the rents in relationship to the cost to get in do follow this pattern.

How would you characterize the neighborhood?

After some digging, I found out that the deal was denied because:The contract sent by my attorney was "unusually long" at 6 pages, both my realtor and their realtor said they'd never seen one that long.The terms were characterized as "too forceful" and intimidated the buyer into backing out.My attorney was asking for a formal legal agreement to be produced on the shared driveway.Here's where I am.

I would disagree with your characterization of the prices being inflated.

That said, I know landlords here in Seattle that have had tough situations thrust on them because of the city code, and I am by no means characterizing Seattle as "Landlord Friendly", I'm just saying that a couple of restrictive laws and a difficult city council aren't enough of a reason for me to NEVER invest in one of the fastest growing cities in the United States.PS: I own 6 short term rentals, 2 of which (the maximum allowable by current city codes) are in Seattle.