Hi, have you passed the Washington state broker exam?

I'm planning on (1) target potential, newly-listed leads (2) compare to similar properties (similar square footage, same number of bedrooms and baths, and in the same neighborhood)  that sold within the last 6 months (3) go physically inspect homes that seem to be listed below market value (4) if I see nothing wrong with the home, put it under contract and present it to my investors listAm I on the right track? 

For example, there's a couple of homes in a nice middle to upper middle class neighborhood near Watauga that are going for about $180,000. .15 acres with about 2,300 square feet.I'm not sure where to begin to evaluate those properties to determine if they would be a good rental investment or not.

Single family home 1100 Square Feet 3/2/2 - 2006 built for sale by seller on the MLS - need no repair for $79000.

I could build a 4,500 square foot building.

One thing is for sure, change is slow to come in Washington so you'd better protect yourself until there is a change; if ever.

I assumed a vacancy every two years.My capital reserves are figured at $.67 per square foot of house per year.Hope this helps.Bill

When I sold that house (back in the 90's), it went for the highest price per square foot in that neighborhood of about 800 homes and that is still the case to this day!  

The price per square foot is also about 25% higher than SFR in the same area/age/etc.  

I am located in Portland, OR/Vancouer, WA area.Thanks if anyone can help!