Plus don't be surprised if once you can make an offer that another bidder suddenly materializes and makes a higher offer even though the property has been sitting for months and months 

Has anyone ever done a full rehab using The Home Depot or Lowe's sub contractors and materials?

I have seen the numbers and I understand why it works, I just don't have the nuts and bolts of it.In a COBOL programming class many years ago, the class material provided the loan amortization formula and it was up to us to write the code to produce an amortization schedule.

I suspect at anyone time there are over 20 GC's working on projects that I personally funded  and then all the subs etc etc. . then all the folks that make the materials that go into these homes.. the real estate community that counts on my inventory to create commissions the loans my bankers make me and are happy when I pay them back my private bankers that I work with day in and day out wiring money to god knows were .. ... and the list goes on and on...

If a contractor says he needs money upfront for materials, offer to pay for the materials directly.  

I think awhile back California FTB had some kind of business development promotion to waive the first year of ($800) minimum tax.  

That leaves flipping (and/or working part or full time as a RE agent) to build up experience and capital, or buying cosmetic fixers at retail and making up for it with sweat equity (zero labor costs) and patience, or trying to work a development project via FHA 203k (or its 20% equivalent rehab loan) if you can get such a deal under contract with a skilled mortgage broker to close it, or waiting until your eminent real estate downturn materializes and risking being wrong.

You're (@James Wise) promoting "relationship", yet it never occurred to her to possibly offer you some kind of deal?

We promote green apartment living, and here in Madison, that sells.

Also it is common to collect an additional security deposit as well.FYI... the tenants union is very active and powerful in Seattle, so become familiar with their website and the messages they promote to tenants.