Trying to establish a work/life balance will be tough.

@James Wierzba cash flow in a hot area like Seattle will be extremely difficult.

I agree with you that finding a property with those specs will be difficult.

They simply have a balance sheet with a number (amount in negative) they are at and want to get that as close to zero as they can. 

So far I have been looking at Bend, OR, Sunriver, OR, and Palm Sorings CA.For example: In Sunriver, OR I am finding that it might be difficult to pay off my mortgage and monthly expenses via renting which to me seems like it wouldn’t be a smart investment then. 

You are making this WAY too difficult. 

@Josh CooperTo refinance if you are buying at full price you will need the property to appreciate high enough so you can pull your money out, or refinance to a lower down payment type loan, which will be difficult to find for investment properties.Not really a feasible plan for trying to scale.

Cap gains on the balance of profit.Mark

I had an understanding that it was very difficult to get commercial mortgages when you want to get your first property.

Fresh and new is the name of the game for the remaining $$, making as many changes that you can do for the balance.