Look at the PM contract and verify the 8% is all inclusive and that there are not additional charges for placing a tenant, resigning a tenant, inspections, and dealing with vendors/contractors.  

If things work out, we'd like to have at least 1 additional property before the end of the year and have 8 in 8 years.

if there is appreciation, but you wouldn’t sell your current home tax free and buy a neighboring home to rent out, (There by raising your cost basis for additional depreciation and lower capital gains tax.) then it probably doesn’t make a good rental property. . 

OF COURSE the Contractor is going to say you need to tear it all out and rebuild the wall(s)  because that's the absolute easiest solution and adds additional work for him.

Rather than just spending the money on a rate buy down. 

Spend time driving for dollars in Tacoma neighborhoods to identify distressed properties.

In addition to interest and repairs, you can deduct off a 27 year depreciation on the home. 

Principal balance currently at 314kProperty Details: It's essentially a "2-in-1" property, with the main unit rented out for $1,900/month and an attached ADU bringing in an additional $1,200/month.

I created a co-hosting profile as I was looking for additional opportunities.

Asking strangers how to spend your money is a fool's errand.