I am primarily concerned about the high (2.6%) property taxes.

Any input would be extremely helpful.Thanks!  

I am a newer investors in Tacoma, Wa and i am interested in approaching motivated sellers with a Master Lease Option but I have concerns about them backing out/not selling.I would want an attorney but even if all paperwork is order is there any gaurantee that I can buy it if I choose?

I'm concerned if I pull equity out that the property will not cash flow.

Who owns the appliances generally determines who pays unless the tenant was extremely negligent in using your appliances.

@Nathan WiebeI think @Andrew Syrios is telling & painting the whole story & picture for you.It's extremely difficult for out of state(country) investors; as most are unfamiliar with price, area , market trends & conditions.

However, I was hoping to get more applicable thoughts from you locals.I will admit, though the units I have identified do cash flow enough for my needs, I am concerned about the appreciation component of condo's in that area.

The closing costs for FHA are out of this world so I wanted to go conventional for a few reasons Smoother closeI know I can qualify for the mortgage amount if I can burrow money to put down and eventually give back of course :)Stronger deal than FHA ___________________Rents $2495Unit 1- $895Unit 2- $750Unit 3- Vacant Unit 4- $850Expenses Property Taxes : $245/moInsurance : $227/moVacancy : 5% (extremely strong rental area)PM: 7% ($171.50)Lawn care: $50/moReserves : $100/moCap ex: $100/MO (very well taken care of stainless steel throughout, roof 5 years old, new paint, HVAC 5-6 years old)Expenses $893.50(Income) Rent - expenses =  (NOI) $1476.75Mortgage- $969 (With bridge loan or other burrowed money 30% down (87k) 70%LTVNOI - Mortgage = Cashflow ($507.50)Bridge loan payment - $580/MO87k at 8% 2-3 year balloon -$72.51 cashflow with (bridge loan)$507.59 cashflow without bridge loanKeep in mind I did this for only 3 units, I will be owner occupying this property or should I not?!

I am finding it extremely hard to find a 2br condo or row home in up and coming areas under $300,000, so I've turned to lease to own as an option. 

Things like that don't happen twice, I wouldn't be overly concerned.