Just to provide closure, because I'm sure no one will be able to sleep otherwise.

.- And here's an excerpt from the actual Washington state law (RCW 46.55.070) that authorizes it (read the bold part in subsection (2) about residential property):RCW 46.55.070Posting requirements—Exception.(1) No person may impound, tow, or otherwise disturb any unauthorized vehicle standing on nonresidential private property or in a public parking facility for less than twenty-four hours unless a sign is posted near each entrance and on the property in a clearly conspicuous and visible location to all who park on such property that clearly indicates:(a) The times a vehicle may be impounded as an unauthorized vehicle; and(b) The name, telephone number, and address of the towing firm where the vehicle may be redeemed.(2) The requirements of subsection (1) of this section do not apply to residential property.

I'd work constantly since I knew ever extra hour working was $ in my pocket. 8 hours of sleep?

I will not sleep at night if I don't reduce my risk as low as possible.  

So all my friend has to do when a tenant causes problems (drugs, disturbing other tenants, etc.) he simply tells that tenant he's going to file eviction papers over the back due rent and the tenant moves willingly and he never actually has to evict.

Years of burning the candle at both ends from having to work instead of sleep (nevermind a social life) has left me extremely motivated to find something different! 

Or that I could only sleep 2 hours a night

This has got to be information / intelligence / negotiation disequilibrium and it sounds to me like this guy basically took advantage of an elderly couple... not the way I'd personally want to acquire my portfolio or make money, at least if I wanted to sleep at night.So if that perspective is in fact accurate - is it really ethical to "take a property" off someone's hands because they are elderly and don't know any better? 

If these happen to be, say 6 o7 years old they might already be considered senior citizens and spend much of their time sleeping.

That said, I am drawn to Anchorage for its setting - views of the Chugach, Sleeping Lady, the Alaska Range, Cook Inlet, Turnagain Arm, proximity to "the real Alaska", and recreational opportunities like Kincaid Park, Far North Bicentennial Park, and Chugach State Park - while having the amenities of a mid-size American city.