Once you do, then you can verify if it's hard or easy to flip there.Couple questions I would be asking, how long does the permit process take.

I have experience handling this in Michigan with my short-term rental.

If they’re financing, the process already takes time, so a slight delay probably won’t matter.If the home is vacant, maybe they can move some things in as a short-term tenant until closing (if their lender and community allows it).

You won't get calls at 11:30pm on a Saturday reporting heat is out when the temperatures are -17 degrees.Increased Long-Term Property Value: "Nobody will care about my property better than me!"

However, I probably would not upgrade it but I would rent it out LONG TERM at least until you know your long term status in Portland.  

Walkable to locally owned restaurants and the street had mostly owner occupied homes that are owned by long time owners.

Of course values fluctuate and this is over a long period of time.What LA and NY also have that other markets may not is high paying jobs mixed with no land to build more housing.

There are many of us that are long time repeat clients on both ends of lending and borrowing that have worked with them for years and we are all very satisfied.

I've self managed property for a long time and I belive that no manager does as good a job of managing as I do. 

Might be a diamond on the rough if you can fix it up and then long-term rent.