When a property is actually identified I would run the actual numbers for the rehab.

South Lake Union has been identified with commercial development despite there being those residential houses suitable as per BRRRR model.

Which inspection can identify this without opening the wall? 

I believe I’ve identified a good property and motivated seller.

Just to add my two cents, I think the most important aspect to be a successful investor, in any market, is to have an excellent team in place that will help cut your learning curve significantly, help you to quickly identify the prime areas to invest in that market and manage your properties effectively!  

Identify any deferred maintenance or repairs needed2.Review the legal aspects, including zoning, permits, property taxes, insurance, and any existing contracts or leases.

., if your realtor isn’t able to help you identify a good deal, work with @Adam Bartomeo so you don’t waste time. 

With those documents in hand, you likely have all the information needed to share with your insurer, to identify who would pay for each part of the necessary repairs on your claim.Hope that helps!  

The best thing you can do is to find an expert investment specialist agent / broker who can help you narrow down your search and help identify the best neighborhoods that you're looking to invest in to accomplish your goals. 

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.