Although no major renovations were needed, our effective negotiation and rapid transaction management significantly increased the property's market value.

Here is our experience:  There is considerable potential to manage a yield-bearing asset, but as @Alice V. mentioned, insurance costs have soared, to $1,250 per door.  

How are you going to manage the place and can you be certain you will be able to get the tenants out in 2-3 years with the current laws in WA?

I recommend you read some books about how to manage properties well, use a strong contract, know that contract inside/out, know your state law inside/out, build policies and procedures to catch and stop problems quickly, know how to screen and select good applicants, etc.An ounce of prevention is worth a pound of cure.

If the latter, will SBA have issues with us adding another loan or LOC to the project?

I still own a few in parks, so I think it could damage the relationship with the manager, but I'll cross that bridge when I get to it.

Hi Shakil, I'm a Realtor and Property Manager in Huntsville AL who specializes in working with investors!

However, I am still trying to find someone who has worked with RP Capitol to setup their investment property and property manager.

Here are a few tips to get started:- **Start Small**: If the thought of a big project is overwhelming, start with a smaller property or a single-family home.

We love Gatlinburg, we love renovations and design, and had the time and skillset, in order to complete an investment project ourselves.