I wouldn't put a ton of money and time into something I don't own.The numbers look great rent/value-wise.  

If you don't have any expectations for career advancement then pushing the boundaries would be acceptable, however, if career advancement is your goal then sharing an outside interest which could detract from your job is usually not wise.

Since you have wisely elected to have professional help in the form of a closing attorney, you are protected. 

I do have about $65K in my 401K, but of course I want to use that money wisely. 

Thank you Paul Timmins and James Wise for the tips.

Pic didn't load last time.And I forgot to add:Thanks to all our meetup members who are also BP members:@Sandra Roddy, @Dustin Karns, @Paul Wurster, @Jacob Michaels, @Katie Kim,@William Strong, @Natalie Heo, @Dominic Jones, @James Wise,@John Kantola, @Robert E.

Its a competitive market, not saying you can't find deals at 70% but it would be wise to study up and really understand this market first. 

For me personally this is very wise advice

Budget-wise, I am in a similar situation and looking to get my buy-hold investing started with less than $50K.The areas I have been looking at are all located a fair distance south of Seattle.

@Tanner KrauthWelcome to BP.James Wise's advice is spot on.