In order to to do so I'd have to forgo multiple months of rent until it gets resolved (you can't evict and accept rent) and there isn't even a strong guarantee that I would win (CA is a tenant-siding state).

Now, if you can do it now to make more cash and have a strong Plan B in place for IF the laws change, then great.

Personally I think the trend is towards negative interest rates (look at every other countries trends) which would indicate deflationary pressure but you can make make a very strong argument for either or! 

@Marvin Mikle All about having a strong purpose and prioritizing it with time blocking.

Yes, there are higher returns available across the country but the Puget Sound economy is strong. 

There is a strong sentiment that to be a good buy and hold rental deal it must be a cheaper off market deal.. is that true?

There is a strong sentiment here for self management even if remote.

Columbus, Ohio is very strong and they are really building up the city so new people moving in every day.

When the market is strong cap rates get lower, and when the market corrects (like it did in 2007-2010) cap rates get higher. 

This does not suit well with getting a strong loan.