I have a couple of contacts if you’re interested.

My non-expert opinion,  or perhaps just rationalizing to myself:These are primarily the "luxury"   amazon dormitories being built in downtown and south lake union areas that are having vacancy issues,   and thats in large part just because of how many are coming online, and how many thousands more are still in the pipeline,    coupled with modest slowdowns in tech hiring.   

I'm a Real Estate Broker, I do my own deals, and I have traditional RE clients, but I also have a couple other businesses I run. 

I have a couple of these relationships and though they work for the bank they've given me good advice along the way. 

A couple of tips:- Get mass saves to come out to do an assessment.

I have done a couple of flips in this area and was very familiar with the neighborhood.

Trish Geyer I haven’t been a landlord long but here are the downsides and upsides I’ve had so far: inherited couple tenants, break up, don’t pay rent, leave junk behind.

The whole commission thing is going to be an issue for most lenders, until you work in that field for a couple years.  

There are lots of situations where we'd say the guy is living there but a new couple wouldn't think of him as living there.

Starting in this third year, after the refinance, I would make $2032 a year after all expenses, which would amount to ~20% ROI based on the $10,000 paid to the seller and ~9.2% ROI based on the full $22,000 put in (including repairs and money lost in the first year).