Fairly extensive rehab. 

I realize Seattle has a fairly high entry cost but some of that can be negated by house hacking a detached duplex. 

I like to rehab in LA or do more of appreciation plays if I can get a smaller bar to entry for holding.

@Paul JellicoeDwello is fairly new and we have not used them.  

This way we can play them off each other in an effort to get them rented quicker.

Not just for taxes, but for basic fairness.

Austin proper is more of an appreciation play at this time.Duplexes in the Austin area are currently 189k to 1.8 million Tri's 600k to 1.2 million4's  400k to 1.55 millionBig gaps and the bigger the sales price the higher the note, taxes, ins etc which means less cash flow.

Good margin play but really better than your HML biz?

The folks on the board do this every day, so they will not be fooled... but they are fair, and if the fair market value is truly less than the stated tax value, then you will win.

Buying in a state where seller pays is fairly normal but as an agent when I buy I still get a cut of that back as a commission.