This will be my first purchase but I've done a lot of research and believe I'm moderately well prepared as a newbie. 

I'm not saying RC will end it, and I actually suspect that in Portland's case they passed this legislation at or close to the end of the cycle and rents will probably moderate out just as new supply hits the market making this whole thing a moot point.

More experienced sponsors, from my observation, seem to be more moderate in their projections, and aren't telling investors they'll get crazy high returns at this point in the cycle.The more experienced folks focus on protecting the downside, showing that the value add plan is achievable, and having a highly experienced team.Your thoughts?

They can have linear, slow-growth for a period of time followed by period of moderate cyclical-style appreciation.

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Roof condition is moderate.

In my price range I’ve found that moderate renovations will get the job done, bring a decent return and the units can rent at market value.

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According to Chapter Five, “An outright gift of the cash investment is acceptable if the donor is- the borrower’s relative- the borrower’s employer or labor union- a close friend with a clearly defined and documented interest in the borrower- a charitable organization- a governmental agency or public entity that has a program providing home ownership assistance to low- and moderate-income families, or first-time homebuyers.”

I am glad to see that there are active moderators.