Use the BP calculator :-).  2)  Do not buy in the ghetto because the numbers look good3)  Write down your screening process  - this is your most crucial key to success and less headaches4)  Deliver the best rental product   - new appliances, toilets, vanities, paint, fans, clean the A/C and exhaust vents  - this is your second key to success and less headaches5)  Get a good lease  - I can share mineIMHO, I think MFs are overpriced right now.  

Then there are the established, master wholesalers who do business in such volume that they have no desire to take on the responsibility of managing rehabs.

However I do like the layout of DT Whittier compared to its neighbors, it looks clean and organized.Are you focusing on other areas?

Small real estate investing in the Puget Sound region is red hot, with hundreds of local players and there are scores of established investors who can simply write a check for the full purchase price, if they like the deal.

That way you can establish whether conversion to gas is actually feasible / sensible. 

Seek out complementary services, and keep an eye out for established businesses is lesser-quality locations that could benefit by making a step up.

No one has to know your home address as you are acting as a business and once you establish the LLC you'll already have a box for receiving responses from clients and or businesses etc.

I don't want to waste my time or theirs. 3X rent, clean criminal, eviction and credit report.

I am thinking about providing new tenants with a welcome basket of basic cleaning supplies and household items like: paper towels, toilet paper, toilet brush, plunger, dish soap, and all purpose cleaner.    

The option can {many would say, should} contain the future Agreement of Purchase and Sale (APS), with all the terms and conditions of the future sale, laid out, as a Schedule to the Option agreement/contract.In exchange for the right to purchase the property at the {strike} price established by the option contract, an option fee is paid by the purchaser of the option to the writer/provider of the option.I would keep the two agreements separate (as if they are with two different people) and have no performance ties between them (i.e. no rent credits, no financing of the down payment, etc).