So now I have gained some knowlegde on how the process works but I need some pointers to get me headed in the right direction to find a good deal.

Partner brought this deal to my attention and had already figured out a rough plan forward - we were able to put our heads together and come up with a detailed plan.

No problem, here are numbers off the top of my head that I think are applicable.Address: 1823 Madison Way, Lynnwood WA 98087Purchase price - $583,000 (May 26 2021)Down payment - 10%Interest rate - 2.9% - 30 yearMortgage payment - $2800Rent collected from tenant - $2,000Stock Portfolio Line of Credit -$133,000Interest rate on line of credit - 4% (not a fixed rate and no fixed payment schedule)Last month my real estate agent ran some numbers and comps and thought $750,000 was what it might appraise for if we re-financed. 

Welcome to the forums, and glad to see you heading out here to Colorado! 

These can vary substantially within even a short distance, but it can understand quite considerably over a long period if you choose property carefully.

I guess that's the first question I should get clear on - if we could use that history to qualify.I suppose the heart of what I'm trying to wrap my head around is this hypothetical:I acquire a property for $1M that has a NOI of $150k. 

In that case, there may not be enough history to substantiate income.

I'm very new at this REI journey, but after years of living in the spectator seat, I'm jumping in head-first.Thanks in advance BP community!

I Keep finding myself at the edge but scared to jump in head first.

I want to try and learn every part of the process and play it out in my head so I am better prepared.