.- For rehab expenses, shove as much as you can in the "depreciation" line instead of the "repairs" line.

@Cody Furman first of all let the residents know that there is a new sheriff in the town with a welcome letter and explain the everything you can in that letter and then deploy some cloud based software like Buildium to track your tenants and the rent and charge late fee and give them vacation notices on timely manner and evicted the bad ones and do not raise the rents until you are stabilized and do the screening to fill in vacancy otherwise you will be in big trouble if bring in bad ones.Charge application fee of at least $35 per couple and they will pay and use that for screening.

If you can help me out I’d be happy to mail you a gift card or help you some other way if I can, in appreciation of your time.Over the past 8 or 9 years I’ve acquired a handful of rentals in Seattle suburbs and south of Seattle but I’m currently setting up my first rental inside Seattle limits, the remodel will be done in a week or two.  

Manage the hell outta this thing (trim fat, milk it, produce fruit, etc...), save.

Fat margins = here sure have this cookie (institution proceeds to eat an entire cake).

I am of course willing to offer whatever value I can in return.

In the owner finance, you take a fat down payment, so I guess more money upfront in that scenario, but is it more lucrative in the long run compared to rent to own?

I must, however, satisfy some stipulations:  1) my offer must exceed the previous by 5%  2) I must put 5% down with the county clerk at the time I make my offer 3) I have 10 days to close 4) If i fail to close I forfeit the 5% down payment and also am required to make up any shortfall between the eventual sales price and the original offer 5)  My offer can in turn be upset by another bidder or the original bidder.Long story short there are too many questionmarks for my taste at this point. 

Put as much as you can in the reserve account so you can easier do anything necessary.Positive cash flow is more important than the location. 

Yes, I'd like to learn whatever I can in terms of multi-family investing, and I wouldn't mind brokering a few deals along the way, but I'm in no way interested in making this a full time career.