I gave you a call to catch up, but you must've been on vacation.

Starting out this is tough as most all lenders want to see assets on top of the one you want a loan for, catch 22.

you could do the same thing, year after year, until you catch up to current rents. 

:https://www.biggerpockets.com/forums/52/topics/680...Without providing a laundry list, I think the theme is to tackle the wear points and troubleshoot the individual unit.For example, start at the door (door mat to catch debris, good functioning new lock, perfect close and open, door stop) and work through each room with that level of detail ( example: Bathroom: new shower curtain, bath mat, caulk, new toilet flapper or overhaul kit inside, strong towel bars, etc.)I would focus first on the low cost items that can prevent larger problems (your doorstop type theme) and then also evaluate any larger item close to the end of its useful life, especially if showing signs of problems (be it hot water heater, worn flooring, or an appliance). 

I'm sure there's a catch and that there's a better deal elsewhere.   

It took a while for the wife to catch on. 7 year old had no problems.

This house was MLS listed and didn't really catch my eye.

What kind of pitfalls should I look out for, for the greater Seattle area (I'm mostly looking at the north Bothell, Everett, Lynwood areas), and specifically in terms of laws and regulations that could catch me off guard?

(Obviously you have not met me so this is a bit of Catch 22 and extremely strange for me to be talking about myself at such lengths, but without having met you, this is the only way for me to capture your attention).What I'm looking for:-An experienced successful Bay Area real estate investor to shadow-To trade hard work for your expertise and experienceWhat I can't offer:-Experience purchasing properties-Large amounts of capital What I can offer:- Sweat equity - (driving for dollars, phone calls, deal research/analysis, etc)- The ability to solve complex problems and get sh*t done - my job depends on it- Attention to detail - I'm meticulous- Experience managing construction budgets upwards of $100m- Field experience managing general/sub-contractors - Creating and executing master and micro-schedules - Energy, enthusiasm, and the hunger to become great- Anything else you need may need - let's be creative and discussIf you made it to this part, congratulations and thank you for listening to me.

Yes, easy to flip thru the 5-7 headlines daily to see what catches your interest.