@Joel Owens Thank you for your insight and all the work you put in.

Someone has to take the risk, I dont have much money to get started, but once we would do a few deals then of course I would put in my half.

Let me tell you how hard it is...I put in about 5 minutes and $5 of my time and money fixing both those issues, combined.

We had just framed, put up drywall, new electrical and put in brand new flooring, of which quite a bit had to be thrown out.

The Seattle Market can be tricky, but the gems are their if you know where to mine, and put in the time. 

it could work, but not in the example you provided. so say you bought the house for 50k (all cash i'm assuming) and you put in 10k renovations, you would need to after repair value to be around 75k. when you refiance hopefully you can find a lender to loan you 75 ltv. therefore at closing after closing costs the bank would pay you around 56k...

I've put in around $15k out of pocket.

Cody try looking at Zillow or Realtor.com put in the zip code for rentals and see what the rents are. 

As I’ve been reading and listening to BP, it has become clear that there are tons of ways to invest so I will do my best not to get distracted!

It is a 1979 build that simply has not been updated.Property listed: 315K Expected ARV: 420k (2 years ago I walked through a unit with the same floor plan in the same building that sold for 415k, units still sell today around that price)Expected repair cost: 20k (I can handle majority of the cosmetic repairs myself)I would put in an offer around 285k and hope to close around 295k.