That is what is meant by slow flip except generally you will use borrowed funds to buy distressed property and sell for more with financing--similar to what some used car dealers do but with an appreciating asset instead.

My primary goal is cashflow so looking for an asset that works and is also in a growing area.

Some of our owners like to buy value add properties and it is up to us to raise rents, rehab properties, and make it a stable asset.

As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

The recovery value of the asset.

It actually works out better when you enjoy the asset yourself as opposed to someone who just wants the money. 

It keeps your asset, but rising costs and no property management may stretch your time and energy.1031 Exchange into WA: If local management and long-term appreciation in WA fit your goals, this could work.

I could use gross income or have the property assessed for assets and it would come out to at least $1M.

Your estate could still go through probate to determine how the LLC and other assets are distributed.You may be able to record a "transfer on death" deed for your property so it automatically transfers to another person when you die.

This could be a great cash-flowing asset but you're also assuming a lot more risk with this structure.