Both tenants just moved out.I just got a bid to correct the foundation the right way by the most reputable company I could find (full underpinning, 60+ piers) ~$65k, plus costs of repairing drywall, paint, vacancy, and new flooring.

All that being said, it might not be worth the cost of putting in parking, just be aware on the front end that you’re reducing your end buyer/rental pool by not having it. 

.), inclusive of any renovation costs. 

Is it possible to buy a property in Seattle low enough to get 1%, yes.

Plus the cost of subdividing , and all that goes with it are for deep pockets . 

Xeriscaping (low-water landscaping) is increasingly mandated in many HOAs, and buyers are scrutinizing water-hungry features like traditional lawns.Rising Construction CostsMaterial costs have fluctuated significantly, and labor remains tight in the Phoenix construction market.

Is this section 8-(or some kind of fixed income program) these units seem very low priced?

If you do not have experience you may find there are a lot of hidden costs and risks you didn't anticipate. 

I will post some progress as I get into the renovation after I close and share more numbers of my cost. 

There are builders that are offering really low rates.