With all of the major companies based in Washington, it seems to have had a positive impact on the real estate in the area.

In fact, it’s a major factor in your ability to successfully raise money.

Currently we are not interested in selling the home, or making major improvements (yes the 1 bath is not ideal), but instead renting it as-is and see how it goes.

Your major limitation is the quality of your credit.

@Dean HulsingOnce you understand the environment in which the business operates (local tenant population, average rents, physical and economic vacancy rates, the growth / decline of the local economy, the risk of the local economy (i.e. does most of the tenant population work for a single (cyclical, declining, growing) employer)), then you can compare the business (property) to its peers and evaluate its shortcomings and potential.After the above, you should be able to put a value on the business and, if it looks to be a profitable, long term venture, issue a Letter of Intent (LOI) with your offer and deal framework,  If accepted, you then dig-in and conduct the formal diligence.

In May 2013, a tornado came close to both properties and resulted in damage resulting in two claims (nothing as major as you think - just re-shingled roofs.

My other interests are Music.Last but not least I'm currently attending Classes at Cypress College Majoring in business administration with an emphasis on marketing. 

This is not just a factor in getting loans it is a major factor in personally staying afloat financially.Get the first deal done, rehabbed and sold.

but its not the majority..

I normally find housing that needs a good amount of repairs which I use the winter months to get the majority done so that when spring comes you can get it rented ASAP.