Spending the kind of money you propose on rehab might not be wiseWhat are the rents before and after rehab. 

It has forced me to spend the time in finding people that i trust and putting rock solid systems in place. now that i have a team i can count on, it is usually pretty seamless. if i am not going to be physically doing the rehab, what is point of even being close to the property?

It's hard to imagine after spending the first 55 years of life in Beautiful Seattle that it has become this hellhole, but that is why we left.

@Antony Nguyen To make sure you understand.....the refi’s/loans that you have, in whatever amount, nor any appraisal have Nothing to do with the taxes you will owe.In your example, ignoring fees/financing costs....Buy for $200k, spend $35k on rehab, sell for $350k (say $325 after commissions and closing costs)....You’re into the property for $235kYou sell (net of costs) for $325kYour taxable gain is $90k ($325k minus $235k)It makes no difference if you did this all cash, refi’d 16 times, and somehow got a loan for $350k.....none of that affects your gain.Also, the irs doesn’t care about selling quickly after refinancing (since refinancing doesn’t affect profit/taxes, unless......you refi right before a 1031, the.

For example, you will have to spend time screening this boyfriend and adding him to the lease.

Definitely don't act on the info you get from BiggerPockets without reading the ordinances yourself, and ideally spending an hour with a local landlord law attorney to talk through options.

Since I got 2 guys to work for me doing tile and etc, I am gonna have more time to spend and focus on the business. 

You might spend on quality cabinets instead of the cheaper ones that will disintegrate in a couple years.

The market is HOT right now meaning we spend a lot of time on the MLS and other sites looking for a deal.

You will become more aware of your spending and saving habits.