Congratulations, now continue working for 30 years until its paid off. Sounds like a good plan? I didn't think so. I want to spend my time on the beach, and traveling between Seattle, Egypt, and California.

Here are some ways to get passive income w/rentals, or make some money on a longer term plan:

Buy a multi-family building (2,3,4,5+ units). You need a 20% downpayment for this. Ranges from 500K to multimillions in WA State. Aim for an underperforming property (not fully rented, or has low rents) and improve the conditions + raise rents + market to get tenants. After that you can refi based on the new cap rate.

Buy in secondary markets here in WA. These are cities and area surrounding Seattle and Bellevue. Like Renton, Lynwood, Kenmore, Bothell, Everette, Kent. Great places to buy, each one of these cities have huge plans for large developments that will most definitely attract more residents that have been priced out of Seattle/Eastside areas. Those areas will experience a good push in home values and are relatively more affordable with better cap rates than Seattle and Bellevue.

BRRR Strategy: Simple idea, execution is not that easy, but doable. Find a fixer home (preferably off market), fix it up, put a renter in there and then refinance the home to pull the majority of your initial cash investment out. Take that capital, and repeat. BRRR = Buy, Remodel, Rent, Refinance.

Buy in Bellevue and take some negative cashflow for 5-10 years, bank on the properties appreciating and making up for that. This strategy is best suited for people with a large capital that have a more diverse real estate strategy.

Invest in construction - Invest in pre-permitted projects that are ready to build. Lower return than if you developed the land and got the permits yourself, but its a good option if you have a full time 9-5. You can then refinance and use the properties as rentals.

I hope this helps. Let me know if you want to chat about any of these more specifically.

-Hussein