Am hoping that will help me in buying more rentals, I'm betting there's a huge amount of info regarding the pros and cons of that though.

Haha, not really but some good food for thought.To address your question I think one of your best bets would be doing a nonconforming duplex in Ballard or Wallingford.

If she is working 2 jobs, where's her money going - sounds awful and some of you will slam me for it but I bet she's got a nice car and a better tv than you do.

With that said, I see both pro's and con's of playing in an inflated NY market versus using my current connections in a smaller (less lucrative?)

Here in certain areas of the Bay Area, I don't really consider it speculation to bet on appreciation in the long term, though you might have to hold through possible recessions to benefit from it.

Even if you save 1,000 a month that is 12,000 in a year.So it takes much longer to get going this way with slow build up.This versus someone who has a business they own or a job with very high income can regenerate capital much faster to take advantage of market cycles where someone with limited capital might buy one property and be tapped out for awhile.

Your question seems to be a reoccurring one -- turnkey versus do-it-yourself.Some of the biggest benefits to truly passive turnkey investment properties are "done for you" investments with immediate cash-flow and low risk.

Your best bet is to spend an afternoon down at the county records office with a list of the properties that you are interested in.

I like for my buyer and I to negotiate a price versus an assignment fee.

I think it's not a good idea to hold because it's betting on appreciation which is like betting on the stock market.