Interest only for 1 year than P&I kicks In.  I

In one of my markets I invest in I could buy a house cash for $200,000.

It's reassuring to hear it's not a rare nightmare scenario I'm in. I

Quote from @Dave Skow: @Nathan Harden- thanks ...I am  also here in WA  and  moved from  OH many yrs ago .....my wife is from Medina OH ......what about looking  closer to  here  or maybe a bit  north ( stronsville  etc) What part of WA you living in?? I

You will likely have trouble finding real estate listed online for that coast since it is really pre-development. 

I also recommend a bank that has local branch that you can go into vs having it 100% online.

If you have questions about the builder I'm using, feel free to PM me.The land broker sent me some options to pick from based on the area I was interested in.  I

For better or worse everyone online complaining about how rich dc is which is absolutely true, will be the thing that saves us.

Are you currently working on lining up funding or looking at potential properties yet? 

A national buyer would review the BPO and maybe do some brief online research, but would not typically not know, as in your example, about the sewage issues or extent of interior rehab needed.