Also do research into what the current occupancy rates are in your market.

Plus you can be more selective of the tenants you rent to being an owner occupant!

I own a property management company in WA, including Yakima.Here’s a rough breakdown of costs:- Management: 15-30% of revenue- Cleaning: $100-$200 per turnover- Utilities: $150-$300/month- Maintenance: 5-10% of revenue- Insurance: $1,500-$3,000/yearTools like AirDNA or Mashvisor can give you a solid idea of income and occupancy.

In Washington State, there’s often a distinction between short-term guests and tenants, but repeated and continuous occupancy can blur those lines.

You’ll lose any property tax caps they may have enjoyed and be increased to the non-owner occupant tax. 

Was at 20% occupancy.

Hypothetically, this deal would perform very well if you achieved 80%-90% occupancy.

Have a great foundation repair company in your contacts list as well as a great structural engineer.Some flippers thrive on these properties as without repair they can be difficult to finance with financing an owner/occupant would use. 

The internet makes the world very small.As far as buying out of state, one challenge I did not see any other replies mention is your occupancy. 

We have an area of town where AC unit theft is common but I don't think anyone is pulling them out in-between occupancy.