I realize I am giving limited info...and can give more if needed.

Is there anything you can think of that we might run into with this that would limit it as an investment?

Whats the price limit your looking at?

-My second RE agent just wanted me to buy, she knew what my spending limit was and she would always try and get me to purchase at my max budget.

These will include (but not limited to) Taxes, Insurance, Utilities, HOA Fees, etc., that occurs during the Rehab period and up until the property is fully rented.  

While the city council’s societal heart may be in the right place (for the tenants getting priced out of the Seattle) the onslaught of recent ordinances (1st in time application - challenged and overturned in Court, limits on move-in costs / pet fees, no criminal checks, etc.) these have in many cases encroached and/or completely ignored landlord/property owner rights and create such complex regulations that it is in many cases not feasible or cost effective for small mom & pops to manage their own properties, so they reach out to pros and pass the costs along to the tenants.

To build wealth, live a frugal lifestyle and invest in income-producing assets.

I'm young, healthy, and just want to enjoy a simple and stress free lifestyle. 

Beginning to wonder if we are smart to stick with our rent controlled apartment (3 bed $3750) and use our cash to buy rental properties in other areasFor SF: Our budget is limited to $1.25m with 20% down.

As a Property Manager, I provide a limited service that I refer to as "Tenant Locator."