It will not impact things.  

Of course, property values can also go down, but both rents and interest on a note should not be impacted unless something crazy happens.One challenge with notes is keeping your capital deployed.  

If the crash affects the tech sector, this will have the greatest impact on the Seattle market just like 2000. 

That's the beauty of doing ongoing business with trusted *partners* - if they make an error (it costs more to repair than anticipated), they are willing to accept responsibility and complete the deal (thus not impacting their partners) even if it means less profit for them.

Any clues on how my year end taxes (not property taxes) will be impacted by purchasing a home, and now having more income coming in.

We are planning to do our first deal(s) before the end of 2015.I currently have a well paying job with a reasonably high net worth and we have great credit so we expect to be able to get favorable loan terms.We are primarily looking at buy and hold single family rental properties as well as smaller multi-family/apartment opportunities (2-20 units to start).We intend to form a corporation to hold our properties and gain tax benefits.However, we are talking about doing this full time (I would quit my job at some point) and we were unsure what the impact of this decision might be on our ability to get loans.  

It is still an extremely good bet odds-wise, but I don't gamble, and $1M would make a very big impact in my life.  

Not sure that offering central air has THAT big of an impact on rent or marketability.

Also, I'm stationed/live in Washington and plan on purchasing in Missouri, what are some impacts are things to consider?

Cuts to parks, policing and other services may  impact population growth in the City.