Do that until you have enough to buy at least able to buy 3 quality B class or better rental homes.

I have a few questions about this scenario:- Is this budget realistic for a quality rental property in a quality neighborhood in WA?

For the seller to create such an offer for you would require high quality creditworthiness...To Josh, if you wish for standard mortgage terms and are 50K apart in pricing, I do not foresee a deal.

While your cash flow is a bit higher, the quality of tenant will likely be a bit lower meaning you will likely spend more in turn over/uncollected rent/evictions. 

This is not a quality post.  

If you are going to use electronic or digital signatures you should pay for a quality service such as docusign.

@Johann Jells - Providing high speed internet can be a great feature for a rental. 

There is far more money chasing deals in this area then there are deals.Direct marketing your own deals or establishing a relationship with a quality wholesaler is a far better approach.

I am obviously not up to speed on private lending.  

It's not hard really.Your likely going to roll up the units in terms of quality of tenants.