In this market you are using the low money down strategy to get into hopefully a break even property, where you can start building large sums of "forced savings" while you are living there for cheaper than the average rents in the area, and then forced savings once you move out with the tenants putting that "forced savings" deposit into your property every month.  

I'm not talking for a high-end home just something decent for the average home buyer. :)  I keep hearing ~$350/sqft.

In the average neighborhood cash flow percentages are low for the first year or two, then you'll see that grow. 

So, for me market rent means I need to keep a tenant on average AT LEAST 2 years.

Now in Maryville, TN the average rent now for that sq ft is $800 a month.

Austin sees biggest year-over-year rent increase among U.S. tech hubsAustin saw the largest year-over-year percentage increase in average rent this September among the nation's top 10 tech hubs, according to the latest report from Realtor.com.

What is the average we should expect to pay for the Seattle WA area?

most lenders  will  utilize the  schd E rental income average  method  for  including rental  income for  qualifying ...if the  proeprty is  recenlty  purchase the  vacancy factor  approach is used 

Another factor is what the average sale price vs. list price is for the area.

Gas prices are really starting to accelerate with the national average at $3.40, which is historically very high.