So would you recommend I try whole sale?

I am actually in Southwest Virginia, close to Tennessee.  

We are self managing it as we live fairly close.

@Cheryl A Perna- thanks ...the proeprty will need to be a condo as there are no SFRs in the downtown area you mention ...condo market in seattle  is  much softer  than the  SFR market right now ...its a buyers  market with many units for sale ...the price ranges are still high and if you want to try to break even with renting it part time - it may be tough to do   especially  when factoring HOA dues into it  . 

You should not be relying on an appraisal to determine what you can sell a flip for.You should be doing your own research and coming to a conclusion of what you believe it will sell for, how long that sale will take, what concessions are likely in that sale, and what type of marketing it will take to achieve that value.

Purchase price: $75,000 Sale price: $105,000 I purchased the property as my primary residence with a one bedroom above garage apartment.

The tenant is not as much focused on rent when they are strong regional to national in nature but the best spot they believe drives the most sales and profit annually.It's the lesser quality smaller tenants that are more sensitive to rents because their model is not often proven with scale or over time as much.So you have to know what you are buying and what to do with it.I buy same stuff for cash but I am the GP on the syndications and my LP's put in minimum 200k per deal as accredited investors.To convert the bank to medical would be very expensive.

Closing on 4 more this month.  

Hello BiggerPockets Community,TL;DR: Looking to house hack up to 4 units in NJ/NY using FHA loan + 203(k) rehab, can handle 3.5% down payment + closing costs on my own (+/- $100k-$150k)I’m a new investor in my early 30s looking to dive into the real estate market with a strategic approach.

@Edwin E.You could look into a deferred sales trust but those typically need a minimum of $1M to make them worth while