However, as a foreigner I am not quite sure how the whole process works:- I do not have a letter of occupancy as it is a Coop (I own shares of the building).

As someone who has financed properties for buyers I can tell you that I am not concerned that you are a foreign national, my concern is whether or not you can afford the terms.The terms may be similar in regards to the interest rate but much less in terms of down payment.

Is this in a foreign country?  

By and large where you form your LLC does not matter because most states will expect you to register as a "Foreign Entity" if you operate there.

The risk in this instance is that you will not receive full credit for U.S.A. taxes paid when repatriating income from your LLC because Revenue Canada considers it to be a foreign dividend rather than income taxed in your hands.Meanwhile the IRS taxes your LLC as a corporation or a flow-through entity depending on the election made.

I am a licensed managing broker and primarily only work with investors(foreign and domestic).

It is possible to speculate that the Seattle area will continue up due to the in flux of high paying tech jobs, low inventory, and foreign investors that see Seattle as a cheaper alternative to other high flying markets.

Bring in a property manager early on - sometimes you can find one that has their own crew and can do most of the rehab for you (sometimes as little as a painting and handyman type stuff and other times, full fledged contracting).Rent it out.If you want to invest via LLC, then prior to making an offer, go to that State's Secretary of State website (usually), or, in some instances, their "Corporations Section" and look at the requirements for registering a "Foreign Limited Liability Company". 

The Canada-US Tax Treaty does not let you claim back personal tax paid in the US against corporate tax paid in Canada via a Foreign Tax Credit. 

If you create an entity in a different state, you will still need to register the 'owner' (the entity) as a foreign entity in the state where the property is located.