Read some studies (but consider who paid for them and their motivation :-) And cities like LA, Seattle, NY cannot blame the vacation rental market for their housing problems, those are the result of failed policies by years of leadership....Vacation rentals have many benefits over standard rentals that you might consider a) they open up areas to vacationers that would ordinarily not be accessible (not everyone wants to stay in a hotel district).b) they almost always improve the neighborhood they are located in - the house, inside and out, must always be in near-perfect condition in order for the landlord/host to stay in business.

Thoughts on market conditions in the PNW, and potential investments with proceeds from a sale. 

My first property was a multi family that already had good tenants, was in a good area, and looked like it was in fairly good condition.

Possibly their story is true (either a real emergency, or realizing that a downturn in parent's condition was eminent).

Seller financing depends more on the seller’s financial situation than the current market conditions.  

That seems like a weird one but call your plan administrator and they will tell you all the terms and conditions for taking out a loan. 

Price was right for the area and condition.

Look at the foundation for major cracksLook at the condition of the roof Look to make sure the windows aren’t cracked and if they stay open when you open them.

When the numbers work like they should, you will make more than double the profit with a 20-unit because when you raise the rents every year by even a small amount like $30 per month per unit you make a ton of money when you do the math with the Gross Multiplier.Suppose, your 20-unit property is in an area and in condition where the Gross Multiplier is 18.

I was thinking I could just do a little terms and condition thing that they can sign and get a copy of their DL, a phone number, maybe get like a pre application?