I'm a long-time listener of the Bigger Pockets Money Podcast. Due to time constraints (I was a graduate student), I've been holding all my investments passively in ETFs. However, I think some upcoming life changes may be the right opportunity for me to dip my toes in the water in real estate investing.

I live in Pflugerville, TX (25 minutes from downtown Austin) and will soon be moving to Portland, OR, for my dream job. While this job could be performed remotely, working with my peers in person for at least a year is important to me. Therefore, I don't have definite plans for how long I'll stay in Oregon, and consider the possibility of someday returning to the Austin area. My husband and I own our home in Pflugerville and are thinking of renting it out while we're in Portland. We're new to real estate and would appreciate advice on our current home in Texas and our future place in Oregon.

We love our house in Austin and aren't ready to sell, but as a long-term rental, it would yield (from what I understand) negative cash flow, covering principal and interest but not taxes and insurance. Someone suggested mid-term rentals may yield better cash flow. I'd like to know your thoughts/advice on how to compare long-term and mid-term rentals. Additionally, the house is 25 years old and could use cosmetic updates to increase rental appeal. I'm considering new floors, fixtures, countertops, windows, removing popcorn ceilings, etcetera. But, I'd like to focus only on value-adding renovations (for rentals of course). Who is the right person to consult about this? An agent? An appraiser? Someone else?

In Oregon, how do I decide between renting and buying? Between renting and buying a turnkey-ready home, renting is cheaper. But, since I'll be there for at least a year, I've considered buying a live-in flip house to remodel and sell or rent later. However, I wouldn't DIY and would contract everything out. Is this a good idea for someone new to REI and to the city? How do I find contacts for contractors and agents in Portland?

Thanks everyone in advance for your advice! Also, thanks @Scott Trench for your sticky post in the new members forum; I was intimidated about posting here, but your post encouraged me to do it (and tag you)!

Austin, Texas

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