Unfortunately the COVID situation is the excuse that some members of Seattle leadership needed to try out housing policies they have been wanting long before the emergency declaration - no late fees on rent,  no evictions for any reason,  housing payments basically optional,  landlords unable to enforce any rental agreement terms.They aren't done yet either - another ordinance is already in the works preventing us from using eviction history in screening potential applicants also supposedly temporary for 6 months after the emergency orders end,   and it also extends the prohibition on any late fees for a year.I hate to say it but I have before and I will again - do not invest new money in rental properties in Seattle without pricing in all these additional risks.   

Growth markets don't appreciate if new construction is not prohibited. 

Some ideas from others:* bank loans are not available on some types of properties * the tight lending climate has made bank financing "out of reach" for many * seller financing is an "age old" tradition based on private property rights * these rules would prohibit even partial seller financing - i.e. a "seller second" * according to HUD's "Residential Finance Survey" in 2001, roughly 40% of all non-farm residential properties in the US are owned free and clear * an estimated 6 million Americans own a property other than their own primary residence * an estimated 4.5% of Americans own three or more properties, many purchased solely as investment properties * 40% of non-owner occupied residences are mobile homes which are more difficult to sell with bank financing * approximately 5% of homes in US are for sale or for lease... seller financing may be key to liquidating this inventory

What is subject to, what is a note, what is a lease with option, what is a lease purchase, what is an installment sale, what is a land trust, how to write up a letter of intent to lease or purchase, how does private lending work with custodians and what is a prohibited transaction and a disqualified person, how do you do joint ventures with business people using their credit and their down payment money, how to do a joint venture with the seller who has a minor rehab, Once the student understands that, and they understand how to talk to home sellers, how to present solutions in non-technical language, how to close and get a signature on the first visitOnce that is completed, then both the student and I interview contract attorneys and registered mortgage loan originators for Dodd Frank issuesThen only then the market for sellers that want to sell and are open to creative financingI believe learning those skills will get you off to a fast start and get to profitability quickly

If you're looking for something that is still relatively close to the city, the prices are quite prohibitive.

I closed on a deal in January, so I'm not saying that there should be a prohibition against buying.

I was shocked to learn that the tax implications of flipping property in New Jersey could make it cost prohibitive (eat of most or all of the profit).

For example if there is  noise or on street parking that is prohibited they should complain to the police.

You have to be aware of, and follow the rules to avoid prohibited transactions (which isn't that complicated).  

He backs this up by promising to file lawsuits against localities that prohibit permitting these projects.