However, appreciation is lower and prices are roughly one-twentieth of what I'm seeing in Boulder. 

Landlording is a brutal business and anyone who tries to tell you otherwise is either ignorant or trying to make money off you.This is maybe the twentieth time I've seen almost exactly the same post in the last year.

To become the world's greatest industrial and military power beginning in the first three decades of the twentieth century.

In the twentieth year of the "straight line" depreciation schedule, it is conceivable that the total depreciation expense is greater than what would be taken under a segregated component depreciation schedule.

: Lower Your Small Business Taxes and Tax Savvy for Small Business: A Complete Tax Strategy Guide Twentieth Editionlegal and insurance - Every Landlord's Property Protection Guide: 10 Ways to Cut Your Risk Now (book w/ CD-Rom) and supplement with Every Landlord's Legal Guide (generally speaking Nolo has a good collection of books)property management - an excellent resource is The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants With Fewer Headaches and Maximum Profitentity start and maintenace - Garrett Sutton's Start Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them (Rich Dad Advisors)  and Run Your Own Corporation: How to Legally Operate and Properly Maintain Your Company Into the FutureAnd here is a set of questions to help you judge if you maintain your corporate well:How well have you separated yourself from your business?

So, your property financial profile will be different throughout your timeline....and yes, the formula is 2^x = "the greatest invention of the twentieth century"...according to Albert Einstein 

They have an option period, say between the twentieth and twenty fourth month of a two year lease to exercise their option and purchase the home.

So the difference between the two, your capital gains, will still be the same, or more, and your tax liability at least as much, and maybe more.If you are looking to avoid paying tax on your capital gain, you can think about selling the property on an installment sale over, maybe 20 years, and you only pay one-twentieth of your tax liability each year, as you receive the profit, or you can think about using all of your net sales proceeds to purchase another investment property, and thereby defer the capital gains tax on the sale.Michael Lantrip

According to WA law (RCW 61.24.060), "The purchaser at the trustee's sale shall be entitled to possession of the property on the twentieth day following the sale."

@David Wolfe, everyone likes to tout their home runs, but in reality very few people hit home runs on their first, second, or even twentieth at bat.