Nowadays the house would probably bring in about the same in gross rent (there is more competition but rates have gone up as well) but the rent for that house would be $20-25,000 per month as the demand and shortage in housing has caused a great increase in price.  

There is a fundamental supply shortage that has not been addressed.

With regard to shortage of vendors, I 100% understand that, but they should have warned you up front.If you have no cap on expenditures that can be made without prior approval, that can be dangerous.

However, if there is a labor shortage maybe their quote is not too high. 

You have an amazing profession as a nurse practitioner and with the growing shortage of primary care doctors in the country, you stand at the precipice of an incredible career with many opportunities beyond what you might be imagining now.

OR look further out - outskirts of tacoma, and in more rural towns - if you can find someplace that has a viable economy or proximity to larger metro area many such towns also have a shortage of good housing.

There is a shortage of quality small multi-family properties too.

I know many investors and people involved in the real estate industry hope for changes to the law in order to solve the artificial shortage caused by the law.

There is a shortage of rentals in the town due to a superior school district- so the 5% is about right.

Because of the drought across the U.S. many crops and cattle were affected.The shortages happened months ago but reserve supplies have been worked through.Now as demand is the same but with limited supply certain items beef,corn,etc. is going to really rise.It has been going up in small increments but will go up in bigger chunks soon.Smart restaurants are looking at what is not rising or is minimal in increase and trying to create flavor dishes so that their price margins don't go up and the profit shrinks.They still might use some of the products increasing in price but with less quantity in the dish to cut costs.This is why for instance if I buy a restaurant business I would adjust down the stated profit model to compensate for the coming higher food costs unless I knew I had a fixed food contract and the supplier could not go up on me.My background before triple net investing and apartments was commercial land development so I find your assembling of parcels interesting and would like to hear more about it and your plans.