Hell Looking to understand and get advice if there are still accessible opportunities to grow wealth through real estate in the Seattle area (Seattle, Bellevue, Issaquah or beyond).Objectives: - De-risk income/wealth from my full time job - Grow wealth (property appreciation) - More cash flow (if possible)- Have somewhere to stay (myself and family) when I visit (why something like STR/corporate rental would be great - can have a spare few weeks here and there)I have a couple properties in the Seattle/Bellevue area.

HI Mary,There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

A good rule of thumb I like to tell clients is that if your activities are integral and income producing, where as if you were not to do the activitiy it would result in the property's financial health being worse off, it should count in general. 

Thoroughly research the industry, field, business you’re interested in to see if there’s a “niche”, unique approach, unserved customer base, or anything similar that can be exploited to earn income 3 standard deviations above the mean.

Eventually you want to have enough passive income to quit the hustle of being an agent. 

I'm willing to give a fair split on whatever profit is earned I'm just wanting to learn as much as possible.

Your net operating income is positive, from what you outline, since capital improvements are not commonly an income statement item.  

Cash out refinance puts the cash into your hands and money is power and it can be kept in a savings or another interest earning account to offset the mortgage rate.

When you submit your income and expenses to your CPA it should be documented that you did not receive 5 months of rent plus your attorney fees which you should have receipts for. 

(Obviously this question is for if your monthly incoming from other properties and/or W2 don't cover it).