You can talk to someone in the Tax Collector or Assessor's office to find out what's in store for 2024, but you'll want to factor a certain % increase in your PITI each year given the tax environment there.

Agent is telling me he can find me another at 8% cap but it will likely need some TLC or not be in as booming of an area.What is good Cap rate rule of thumb, if there is such a thing?

We are lucky enough to have several large companies located in the middle of the boom.

I just want to be an equal opportunity rent collector and therefore, I treat all my tenants the same.

You will have to head to Eastern Washington or out of state for the 2% rule to apply.Rents are skyrocketing all over the area and my opinion is that Snohomish County still has a lot of boom left in it.

Mark,I do not know the market there but with the announcement of LeBron James coming back to Cleveland I read an article that he alone with cost an economic boom somewhere of the likes of $500 million a year. 

The expected ROI is 15%+.Feel free to google Williston, North Dakota to check out the housing market we are experiencing in the oil boom of western North Dakota.Tina

I'm not sure what cap rates are out there, but just be prepared for the boom and bust cycle.

And sold those properties to our rent collectors, people the renters didn't want to get upset.

If I have to do that I would not invest as my time is way more valuable and money earned than dumping it all into one business.If a business is losing money then the value is an asset sale only at maybe 10% of parts to liquidate.Many businesses just like properties have "legacy leases" that were okay during the boom times but do not cut it now.A typical deal is I put down 40 to 50% at a 2 times multiple of net profit and renegotiate the lease with the landlord for better terms.