Rents come in and go right into the proper accounts ( parents, brothers, mine).  

I believe I could get 100$ a night at least on airbnb and there is a company that will take care of all management for 20%.

I am estimating that there is still about $5500 worth of work to complete the project plus the dishwasher, refrigerator and some bathroom items (that I have already paid for).The gentleman and I still have a relationship and he is paying for a guy to come work when he can afford it (telling me he is building mobile homes for $12/hr during the day and managing the night shift at McDonald's to cover bills and my work).

I was hoping to purchase the deed, do the ejectment and quiet title under the proper timelines, and hopefully, one day, build my family's dream home on this property lol.

Seller texted me last night that they're going to use a lawyer, so now we can move ahead.

That being said, I was considering taking all the proper course work (it costs around $1500 at a local community college) just so I could learn the more technical details of the business. 

After reading a few forum posts about the Seattle market and seeing a few MLS listings for multi-family homes, it seems like people are recommending to buy properties out of Seattle proper due to strict regulations for renters and price increases.I was originally looking in areas such as Ballard, Fremont, Wallingford, Greenlake because of the influx of technology employees such as myself but it seems that majority of these areas have increased prices and strict regulations.

is, what are the proper steps someone like myself would need to take in order to get my property management business off the ground and running?

@Chris Seveney I agree that most of the risks which were said prior can all be mitigated by proper due diligence.

This may play a factor in the strategy on how to handle this situation.It doesn’t seem like there would be reasonable time for the seller to make a proper repair before closing, so best approach would be to request a seller credit.