I am a new REI and would love to get some advice from some seasoned investors on the best way to start and succeed in this field. 

If the NOI numbers are to be believed ($51k/year), it is selling at a cap rate of 2.2.I quickly looked at rentometer.com, and it suggests that average rents for a 2 bedroom unit is $1600+/month.Is this a really good potential opportunity (especially in the Seattle area) to fix it up a bit (if needed), raise rents, season it for a while, and sell?

How long does it need to be seasoned before the note can be sold?

That is the busy season in real estate.

Fact is since the beginning of June which is supposed to be high sale season, Home sales have slowed, DOMs are up and prices are dropping.

That said, there are a number of no income verification products on the market that don't require 2 year's of tax returns for self employed and even allow short seasoning. 

The late summer season is a big factor tho.

So just want to make sure i get tips from you seasoned investor!

I think insurance premiums will be substantially higher if it is an older house

Just sit on it for now and wait for it to appreciate more and when I find a good property do the refinance at that time or not at all.Would love any thought seasoned investors have on this idea.