My decisions right now are whether or not stay in my neighborhood (which I know so well and am certain the high demand for rentals as well as purchases will continue) or buy in seattle, where I think the appreciation is even faster and I can find more affordable units than in my neighborhood.  

If you cannot afford the health and safety requirements of owning real estate, I'd suggest you find another type of business. 

Which may be frustrating because their system is more set up to handle people's names being impersonated rather than phone numbers, but there is a form for people without Facebook accounts to fill out in such a situation. 

This will help you get through the frustrating times that you will definitely experience executing this strategy.

I have a decent amount of savings but can't afford to just blow $4,500 with no return.

You have to be very, very careful with personal possessions in Chicago as the land lord tenant ordinance can be frustratingly tenant friendly.

They couldn't manage the properties (collect rent and afford the repairs) and fell behind on the mortgages and filed bankruptcy.

Yes I plan on managing myself until I get enough properties that I can afford to pay a management co. 

@Pete BarrowThe market we live in (Chilliwack) used to be affordable, as of the last 2-3 yrs things have really taken off and purchasing any rental properties in our area simply do not make sense, that is unless you are putting down a very large down payment to bring mortgage costs down... but we have recently noticed things have started to cool off and pricing is taking a bit of a correction.

I just wanted to make sure what’s the plan it you don’t have a tenant and you can’t afford your hard money loan monthly payment.