Therefore I'm just going with the market value of the home.A few quick points about the property that may affect the rental property calculation:It is located in the historic district of my city.It is about a block away from a major hospital in the region and less than 2 miles away from a major university.

Afternoon BP, I'm looking for a land broker in the Seattle region, more specifically the east side near 90 who specializes in semi rural sites and has a working knowledge of the various challenges associated with developing a SFR on these types of properties.

I am starting to feel that the market there is better suited for someone looking to stay in the area for a long time and house hack (which is not us) or for someone with deeper pockets who can handle a very large scale renovation on a foreclosure or cheap gut (which unfortunately is also not us at this time) We were looking in the capital region due to family being in the area so at least we can make each trip a dual purpose visit (they would not be helping to maintain or manage the property, we would bring on property management for that) but honestly, the drive up there is longer than the drive to Wilmington and that's very enticing.

I've been out of the biz for a bit, am in a different region, and am not in that kind of set up anymore so i am looking for your market expertise to help guide me.

Hey @Asad Halai welcome to the site.Facing 3-5% Cap rates in Toronto, I can see why you're looking outside of your market.Cleveland is very diverse, and sub-market specific.

Speak to your accountant, lender (local regional banks are best) and attorney about all of the above and then form your LLCs yourself as fits your situation best.  

I figured if I were going to enter the market, this is a good region for me to test the water. 

I know nothing about Toronto BUT I easily found good recommendations on my local Real Estate Investing groups on FaceBook. 

STR's have a very high Op Ex Ratio so it's important to have all those numbers (which will change from region to region, and business model to business model) assessed when you are ready to underwrite your deals.  

I would like to find someone in the South Seattle region that has experience in rental property investing to chat with and learn from.