I'm not sure if the program is still going on, but has definitely revitalized a lot of the area when it was once destined to follow the way of other older cities that are aging out of existence both in terms of people and property. 

I've seen a situation two years ago where a new landlord had trouble evicting a tenant who was constantly late on payments because the tenant argued that the late payment terms in the lease had not been honored since the start of the lease and couldnt be suddenly enforced because of this. 

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.  

It was a big project in terms of the amount of work it needed, I just ran out of time with my lender going through the garbage with the contractor, finding a new one, and finishing taking the longest. other than that I would've let it sit on the market to get closer to what I actually wanted for the property.

What terms are they proposing?  

Thanks, I'm looking to get into short term or long term rentals for starters.

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

Personally, it’s something I always expect from a short-term rental, and it can have a huge impact on your reviews.To make things easier for both you and your guests, consider smart tools like locks, outdoor cameras, and smart thermostats.

@Parmesh P. there is no such TDA paying 7% or even 6% long term,5 years or longer.

I am looking to make an offer a 2BR condo for use as a long term rental.