Wet signing the lease in person is the only opportunity to talk to the tenant about stuff that matters - so we quickly switched back.

@Brandon Eike  That's a decent amount to put down. 

For the 4 plex you are spending an extra 80k in renovations (I question your 110k renovation number to get to 4 units - this could be low but I don't know the square footage or layout).

Not following the requirements (within Seattle city limits will likely have additional rules and regulations) opens the seller up to liability.Additionally, the seller always has the option of offering "cash for keys" arrangement but be sure that no funds change hands until after the property is vacated and locks are changed.John

Quote from @Marc Winter: Of course, a skill like that is marketable! 

I've already verified that it can be done as I've paid off the ones that were with Freddie Mac (or Fannie Mae).

But that is also in the very nature of real estate, it is long-term.

Overall, that doesn't drive up the price of homes like tech markets tend to.We tend to lean towards a healthy balance of linear markets that are starting to have "something" that people are moving there for.

I know there are some STR regulations, but it seems there are plenty of parts of town where it can be done.

There is plenty of good turnkey properties on the MLS for sale that would cashflow using the 1% rule and you wont have to overpay for them on a "promise".