My end goal is to transition a portfolio of small-multis into medium-large apartment buildings, possibly taking aim at student housing since Seattle has a number of strong institutions of higher learning in the area.

I paid my attorney $500 for a strong operating agreement semi-tailored to what I am trying to do.  

The key is being able to DO WHAT YOU SAY.The reason wholesaling works is there is a strong demand for investment properties, and cash buyers rarely work with real estate agents or the MLS.  

You will need strong liquid reserves to overcome your credit and experience.

I would highly encourage you to find a RE Lawyer that will look at your current lease with the current tenant along with their "demands" as realistically, paying a RE lawyer a couple of hundred bucks is going be a worthwhile education, plus, may save you thousands on that weird agreement the tenant is "demanding" you sign.Being a landlord is very tough and I believe it to require STRONG LEADERSHIP skills.  

etc...Talk to you soon.Tommy The rental market here is really strong especially South of Madrona, I'm currently really interested in the area North of where High St meets Broadway.

If I do the deal, one escape route I'm strongly considering is splitting the land into two lots, allowing me to sell off each home individually.1. 

One of the great areas of real estate that I've come across that generates a strong flow of passive income without the horror stories is the buying and selling of land.

This is also something I feel very strongly about.

I normally wouldn't agree to do some of the things requested but this is such a strong offer we didn't try to hard to negotiate.