The presentation covered basically everything I have read on B.P and various books.

If you are SEC-registered you are covered in all 50 states.Make sure you're talking to a securities attorney.

I understand you want the opinion of other investors, but ALL legal questions should be referred to a qualified legal professional in the field that covers your query. 

In our Bham, for example, that $150k in equity could easily cover down payments on 5-7 solid B/B+ cash flow props that rent for an average of $950/month.

My recommendation is suffer through a couple more years banking money and acquire properties.

Spokane, Wa suffers a lot as a result of the Seattle-side government. 

I’m not sure if you’re buying cash or using banks but lenders typically will not allow the seller concession to cover the down payment.

However, it doesn’t cover the State portion.

She finally typed up a single sentence addendum that says, "Owner and seller agree that renter will move out before closing," , and continues to insist that her broker says, "all of our bases are covered."

I went out of state (Kansas City) last second and glad I did, it's worked for me so far.... and in theory had I deployed the capital needed to make a mortgage same as my rent I'd EASILY be able to cover my rent and then some.I will lose the appreciation game, but I was never into that for investing anyways... plus I have the freedom to move as needed when life happens IF I need to even if that's not on the table now.