In addition if your going to flip houses you need a developers license..  

The agent was supposed to tell me to submit documents but since I was under the deductable, they didn't say anything and I didn't either.Now they told me I need:(1) before/after pictures;(2) PAID IN FULL receipt showing licensed specialty contractors on work performed;on:(a) roof repair(b) ceiling drywall work(c) ceiling texture and paint work(d) fence repairs(e) fallen, hanging, damaged tree branch removal and pruningAfter some calls and elbow twisting, I was able to get the roofer to give me a retroactive receipt now on work done in September of last year even though I paid him cash.I was not able to get the debris removal cleaning company to give me a receipt.I did the sheetrock, texture and painting myself so that was my time & cost.I have pictures of everything.So now my windstorm insurance may cancel because I can't provide receipts of licensed specialty contractors on sheetrock/texture/painting work performed.Kind of surprised that simple sheetrock repair work would need licensed specialty contractor. 

I don't want to demotivate you but instead of low balling offers especially in a sellers market, try to do your numbers properly using either the BP calculator or other calculators out there. 

I'm as well a NY State licensed Real Estate Salesperson and do it on the side purely to learn more about the RE market and help in my investing. 

Jon - welcome in advance ...the 15 min drive time you initially mention is a bit unrealistic  as  getting a few miles in that time from SLU is a rare  accomplishment …..I live in NE Seattle  ... 6 miles from my office in SLU area and it normally is a 30-45 min commute  driving  …..light rail from husky  stadium is great as I can get to office in 30 min  with a 7 block walk from Westlake  station …1.2 mill budget   should cover most of the  North / NE and NW areas of  Seattle proper  …...some other neighborhoods / areas worth a look  include  maple leaf ….Ravenna ..west seattle  ( longer sommute from here ) ...Laurelhurst ...view ridge ..wedgewood if needing financing - get  pre approved  in case you need to make a move on a property quickly  good luck and  feel free to call or email with any questions 

. ;)https://national.wfgnationaltitle.com/2018/08/06/zillow-gets-brokers-license-in-arizona-but-has-no-plans-to-represent-homebuyers-and-sellers/

A lot of the value add has been done, And done properly.

The legalization of cannabis in various states has created a niche in the real estate industry where the value of properly zoned lands and properties have been increasing at an astounding rate.

If you really have $60,000 in equity then you may be able to get a HELOC to cover a dow payment for the proper.

In my experience it is cheaper and harder to install properly.