The problem with a short-term rental though is that it's tough to determine/figure out the income producing potential of the subject property.

The determination of what is profit and what are expenses don’t change whether you do it as an individual or an entity.

Since you only have 10 years left, you need to determine if it will be worth it or not. 

I'm not so sure about WA, but being a high cost coastal state I would wager they're none too friendly.Generally if you google around you can find guides as to what that all means, as well as how to determine if a particular state or market is good for investment.

Simple easy advice which I was leaning towards but just could not determine if that was the right move.

Let your target market determine your strategy.Price points here are increasing, but I make the case daily that it's a market-area correction.

I will probably reach out to many of you and just try to connect with everyone because that is my nature and I am determined to get started. 

How much did you save and how did you calculate and determine that amount? 

Currently, I own a townhouse that serves as a rental property, but I have been trying to determine what the best path is for my next investment.

We prefer being on the fringe of a larger city as we really don't understand city people that well and find it harder to determine what features they are wanting in a unit.