Car washes are great and have tremendous margins, but it is capital intensive, competitive and difficult to scale.

In a sense, the rehab type projects tend to be more involved/intensive than new construction, which is what you're running into here.Thanks for all the info and I hope anything I can add may be helpful in advance.Firstly, there's a couple considerations here. 

The toughest part is getting in there, getting material in there and working. it is a labor intensive job, which would be your main cost. 1st thing is to clear all the debris that the inspector said was in there then you would have to temporary support the floor joists as you replace the beams that are cracked/ broken. others you can make a 2'x2'x1' deep footing right next to the block, once that hardens pot a small post or cement in a new block to support the beam, then remove the loose blocks. 30K seems like a lot, but it could run you between 10-20K, the hardest part would be finding the contractor that would want to do the work, i have worked in bad, tight spots and know how it could be, i wouldn't even take on a job like that.

Inserting blocks under the concrete beam is work intensive and expensive.

Lastly, define your investment strategy, whether it's fix and flip, buy-and-hold for long-term income, or short-term rentals like Airbnb for potentially higher returns with more intensive management.

It can be very labor intensive to get it up and running.

Often, the appraiser has good intensions in their attempt to help the borrower, but overvaluation leads investors to pay more than a property is worth, or spend more on renovations than what is necessary, or expect to be able to refinance at a value that is not in line with their market.

@Kenny LauPrivate lending is another option that is less intensive than owning property

Our criteria's not too intense right now as we're looking at 1M turnkey with a finished basement and in area that has a lot of growth potential or is already really "hot" though I think it will be very rare and few with the hot ones as those seem to be over the 1M.If choosing between West Kirkland and West Bellevue where would you put your money?

All I did was look at a property, run the comps, and got a reno budget, So nothing to intense.