With home prices rising in western Washington, sometimes East Tacoma is all a young family can afford.

Meanwhile your property grows passively in many different ways:  possible appreciation, rents rising (rents almost always stay solid even if you have global recession), interest tax deductions, and depreciation, among other things.   

Also, as stated, run interest rate scenarios for year 5 at various rate changes too, especially since we have been in unprecendted low rate environment and they have started to rise again. 

I'm not too sure what kind of baseboard I have, but apt temperature wouldn't go pass 50 degrees..

I did some research with very similar criteria to yours e.g. job growth, population growth, nice weather, rising RE prices and included price/rent ratio which is a critical cash flow measure.

We are fortunate to have lenders that will do this, however there is the risk of rising interest rates at reset time.

I think as we enter a rising interest rate environment there would then exist the conditions for banks to be more incentivized to use the due on sale clause. 

I try to use a more analytical approach and get the information about rising costs of ownership/operation of rental property into the hands of my residents in advance.

Happy New Year.The playing field is slowly changing interest rates are on the rise.

.- The house has been unoccupied for the last 12 years, my main fear with this is that the pips may have burst 4 years ago when Ireland had record low -15 temperatures.