I think the region makes a great counter cyclical recovery story.

 Unless the bank is a small local or regional bank, you are probably wasting your time.

@Jeff Ostreim - Welcome to the Bigger Pockets community for the Puget Sound region!

I've never had the experience of adding a second story, but I imagine there'd be quite a bit of engineering involved, making sure the existing footers are strong enough.Prices vary greatly by region, so your best option may be to call some local contractors and see if they'll give you a price/sf estimate for both items.

I would be going to local and regional banks and asking what they have in the way of construction loans. 

I am looking for similar like minded people in the Pocono Mountains Region  of Pennsylvania to discuss REI, contractors, strategies and the like. 

So tax as % of gross rent should be relatively high vs. other regions.

Amen Dan, I am one of the biggest wholesalers in the Mid Atlantic region, I try offer deals at or below 65%  ARV less accurate repairs cost.

The question I have for the members of BP is this; what is the average or typical capital requirement for a NEWBIE in the SoCal region?

Look for regional banks like Peoples, Webster which I know are portfolio lenders.