Beginner in Spokane, WA (Multi-Family, owner occupied)

[Caitlin Daniel]

HI! 

I recently joined and am learning as much as I can. I just put my first offer in! I'm a first time investor and buyer. I decide to move to Spokane Washington and by the time I got here and got a job and am ready to buy a multi-unit house to begin my real estate empire, prices have risen over 20%!! In one year!!

I am about to put an offer on a property. 1950s 1/4 acre lot in a good neighborhood. 2 side-by-side 1b/1ba 490sq feet each. One unit fully renovated in 2019, other unit is in good condition with an updated bathroom, needs kitchen update and W/D. Has a 2 car garage with barn doors and a wood heat stove. Plumbing and electrical have also been updated. No basement. Garage roof leaks, needs a new roof, honestly the whole house looks like it needs a new roof and I think needs new siding. 
Due to the rapidly rising costs of living, rent is also going up so I could likely rent the updated one easily for $800-$1100 and I'll be living in the non-updated unit while I do some sweat equity.

BUT they already had 3 offers the first day it went on the market. Here in Spokane more things are being sold over the first weekend, and for over asking. I offered asking because I'm trying to stay near the 1% rule. I did send a smokin "love letter" to the seller that's owned it since the 90s and currently rents it to family that pays 1/3 market.

I've got one pre-approval letter, I just applied for another one thru my local credit union that I bank with. I have 800 credit so I should be getting the best rates, Looking to do 3% down.

Any advice is appreciated about the home-buying process. Inspectors, insurance, closing costs, etc. I'm a vessel for your knowledge!! Especially if you are an investor in the local Eastern WA area.

Thanks so much!