@J Beard, I understand your concern and agree with you to a certain extent although I don't consider someones reputation to be destroyed because they drive 60 mph in a 55 zone - going over the speed limit is also known to be illegal and could be considered un-ethical.

I think Tacoma is ideal if you are local and using the BRRRR strategy.I am concerned about rentals in Olympia, Lacey, Yelm and Tumwater because they are closing down 16,000 military jobs in the area.

I would be concerned about the neighborhood as well.  

This would resolve all of your concerns listed above, except for the need for tenants to pay for multiple reports if they apply multiple places.

This guy knows enough about insurance to be dangerous which he is demonstrating with his poorly informed advice to readers. 

My other concern is should I wait for this bubble to pop?

A lot of concerns just looking for advice. 

There are other FHA requirements concerning which you should contact your local lender, but determining whether or not a triplex or fourplex meets the self-sufficiency rule is a good place to start as this rule will immediately eliminate many properties from your search, especially in expensive markets like mine.Good luck and let me know if you have any questions as I just went through this process last year.

Account Closed good point I'm just concerned that if I focus on one small market than I wont be able to find a deal.

One of my first (of many) concerns will be to not overdo improvements, being as I tend toward, but am not a full blown perfectionist.I'm sure I'll have more specific questions as I go, but for now I'm just schooling myself on the basics here at BP!