Basically, anyone who had a pulse could get a loan.In today's market, lending regulations are still pretty strict. 

Portland is a pretty competitive market for investors, so you will likely want to find off-market leads.

Looking over the reports I have on the property I had seen some pretty high costs which I was told was the water testing, though to me $1500-2000/month seemed a bit high.

For now, I'm focusing on wholesale to help save up money to fund my first flip.From the research I have done I've pretty much come to the conclusion that I need to start my business or form a LLC (of course for a name, website, flyers, etc.) and to start putting in crazy amounts of leg work like driving for dollars and getting some leads together and started up in order to put together a profile to find potential cash buyers..Is there any advice you could give me that would help out with the beginning stages of starting up my wholesale business?

It may not be pretty for the mortgage company etc. but the research says it works as a negotiating tactic.

That's pretty good as far as most investments go but really you paid $20k for $100/month which is a 6% return. 

That covered my question pretty thoroughly.

I just spoke with a friend living in Spokane who said the market there is pretty good, although I've not had any personal investments there. 

Pretty new at all of this!

Online banks pay a pretty solid interest rate.