Houses around the area sell for around $140,000, but the other houses in the area don't have a garage attached to the property, a fenced in front and back yard, a master bedroom big enough to fit a king size bed with three dressers and a bathroom!

They tend to fall into three categories:1.

From their latest SEC filing they had an 'average rental rate increase on non-month-to-month leases of 3.3%' for the three month time period ended September 30, 2015.

As far as I know, all three have experience in everything from a mop-and-paint to new construction.If you're looking for data support in Snohomish County, I know @Doug M. has been doing a fair bit of work with analytics, might be something you'd want to look in to.As for me, I'm just a small time buy-hold rentals guy, but maybe we'll have a reason to talk business after I wrap up my current purchase, or just shoot the breeze at the next BP meet-up.Cheers, and welcome to the community!

Let's say the monthly mortgage payment is $5000 and the rent from the three other units cover that.

You don't need a reason to not renew their tenancy, you just have to give them sufficient notice.As for the inherited tenants, when we inherited tenants we sent them an introduction letter a couple days after closing.

Ok, now that you have taken your initial step, below are some quick links to get engaged.You mentioned three niches of interest and as such I added the guides for your review.http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling) http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/inviteshttps://www.udemy.com/biggerpockets-real-estate-investing-course/ (video with 64 lectures and approx 6hrs of material)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)REI can be very daunting, but, before you go searching for that 1st buy, please take a few minutes to bone up on the tips in link below.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REI)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

All of the notes where I found that the property owner and borrower that didn't match were first position.I also see the appeal in modifying a loan for an owner occupied underwater property assuming that you acquired the note at a discount sufficient to provide room to do so and still earn a profit. 

Is the seller going to subdivide them into three lots?

I started thinking about Memphis because I know there’s a lot going on down there now and also it’s just far enough South where a lot of exterior work can be done year round (my contractor mind thinking).In January I plan on spending time in those three markets meeting people in the know (I hope).