Have you checked out any specific properties or areas yet?

Any thoughts on that specific area?

Happy to connect and hear more about your specific property!

- Purchased a 1960's vintage building, 18 units, in 2017 for $1.5M- In a major urban city in the northeast- Put $400K down and have paid down $100K in loan (so the balance is $1M)- Purchased it to supplement my 9 - 5 and use it as a resource of income to retire (15 20 years from now)- It's comprised of studios, 1 bedrooms and 2 bedrooms. 

Now, when communicating with the tenant I find a specific date on when they will be paying.

The loan often has two components: (1) purchase and (2) renovation where the latter is usually funded through reimbursement.As an FYI, lenders usually require the property be non-owner occupied.

We are in the process of purchasing a home in Bremerton and we live in CA at the present time.

This is not first time I read 30 mil apartment, after they purchased they found major plumbing issue, cost to replace all plumbing: 5 million.

Property was purchased for 130k.

When you turn a personal residence into a rental, you want to make sure you calculate your basis properly.Your basis will be purchase price + improvements made to the house since time of purchase(Assuming the FMV at time of conversion is atleast this amount).Best of luck!