Both are less appealing to foreign buyers and the wealthy tech homeowners/beginner investors, so you have less competition and much lower $/Sq ft prices.

I always suggest to my "WEALTHY" friend to invest, say in a mutual fund or a REIT, but the problem is simple.....You can't drive around a show off a mutual fund, or a REIT..But you can sure as hell purchase a 50k BMW and look good...That is the problem in the USA....

The creation of wealth is an attitude not just a niche.

He is considered one of the best closers around by some of the most powerful, wealthy, real estate investors in town.

Make money, invest it in real estate, become wealthy over time so that you don't need a job.

They both had the same message and said that the guy who consistently hits doubles and triples will be far better off and more wealthy than the guy who is trying to always hit it out of the park.  

"its a real business might not support it self day one with zero equity in it.. but its real and those that buy those assets are the ones that get wealthy .. far more than those that buy assets that do not appreciate or if they do very little but collect a few bucks a month which you know what happens to that it gets pissed away .

Account Closed’s list of contingencies you need to plan for is a great place to start  In my market (Seattle)  it can be hard to bootstrap your way to more than a couple properties without a very strong W-2 or a wealthy network.  

I'd imagine most of the islands in the Puget Sound have good awful LTR numbers - lots of wealthy homeowners bidding up prices and a commute/local job market that is less attractive to renters doesn't seem like a winning formula.Why Whidbey? 

Rent to wealthy college students who have rich parents who will co-sign and pay for the very expensive damage that students do.Spoiled children will whine until they get the nice apartment with the super douper theater system.