Multi in many markets is very frothy.no different here in PDX.however when you go to other markets with higher returns your risking the tenant base.. so be careful there if you think that's your next progression.

By documenting to your contractor in clear, sharp detail your desires, they will be able to make field decisions on the fly without disrupting progress.

Lurkers: Basically, this is applicable for anything coming up beyond your control, or ability to anticipate, that would cause you to break your promise to owner occupy for 12 months.

We went back and forth a few times, as I don't understand how there could be no financial statements, and she eventually said that they have them, but only give them out to owners and banks for mortgage applications, not buyers or other people.

The down side to this community is that the 1% guideline would not be applicable here...

Until that attitude changes, you're unlikely to make much progress getting the average real estate investor to diversify--especially into stock/mutual funds/ETFs (Buy and hold?

You will need to file a application with the buildings department.

. ;-)@Robin Lewis In paradise my PM would also be totally awesome in checking, analyzing and telling me what improvements I could/should do (I'm somewhat of a distant owner), organize the contractors and material, overlook everything, kick some butts here and there, provide progress reports and ultimately pay everyone involved and then invoice me accordingly.

I'm not sure if their story was true or not but if it was they are idiots for thinking they could rent a house without ever seeing the inside first, not filling out an application, not getting a lease, not getting keys and the house not having utilities on with"all utilities included."

At bare minimum, assets are confirmed by using a 1003 Uniform Residential Loan Application.