I shoot for no more than 1 month rent as a reasonable goal for a standard turn unless I also do a major update like all new floors or new windows, etc.  

Check Facebook, there are real estate investing clubs in every major city that a lot of times have monthly meetups.  

Snohomish County is a great area to invest, and the airport at Paine Field will be a major factor.

So, without doing your research you could buy in a terrible time without understanding major downsides. 

@Ashanta Kelly I am not a Realtor, but as an investor, I can tell you that San Marco has some major problems with flooding and the City has a plans to fix it, within 3 years.

It really needs an in-depth discussion with a tax expert specializing in real estate.There is a major distinction between a developer and an investor for tax purposes:Developer buys, subdivides, maybe builds and sells.

Assuming his lease ends the end of October make sure you give notice BEFORE the end of September to be effective.One month a landlord and you have already learned 3 major lessons:1) never rent to a seller or their family members.2) never accept rent payment in advance.3) no good deed ever goes unpunished.

In my experience, the vast majority of them terminate early.

So I'll share why I feel that way.What has stood up to me was his responsiveness, not that I bug him, but he keeps me posted on major issues, and he is firm but fair.

If the property is turnkey i.e. fully rehebbed with all major items like roof, plumbimg, electrical and mechanicals etc. updated you may need very little cash reserves at least initially for a few yrs so you mighe be ok.Having said that I would recommed having some cash as reserves or have way to pay for things in case if something comes up with the rental or in your personal life for that matter.