Both gave it a green light.

Being able to come up with an accurate rehab estimate (and accurate means assuming the worse and then adding a contingency on top to account for what always shows up unexpectedly) is not something that should be taken lightly. 

I used a brand called Corten...they come shiny and rust up real nice in a couple months...

Replaced a few light fixtures is all!

I haven’t done brand new construction but it seems apartment building of 32 units costs around $250 per sf as per my contacts that currently build.

As a realtor and investor in RI/MA, I think the best route to go would be find a realtor-investor hybrid who can give you three prices: #1) AS IS off-market- the realtor-investor purchases him/herself (likely 70-75% of market value)#2) AS IS on-market - the realtor-investor lists on MLS (full market value)#3) Light touch ups + on-market - the realtor-investor lists on MLS.

Speaking about the brand new Seattle rules about giving 180 days notice for ANY rent increase and paying relocation costs if the tenant is unable to continue living there, what logistics have you come up with to navigate this? 

If everything is brand new in the building, what am I really looking at for an estimated Cap Ex percentage when crunching my numbers?

I have light construction experience; I'll definitely need training but I learn new material quickly and I am easy to work with.

First step for me was electrical because I had old fuse boxes with some knob and tube wiring, which needed to be updated so I could add overhead lighting, dishwashers, GFCI/regular outlets, exhaust fans, ceiling fans, etc.