For the last two years we have been sitting on the sidelines.  

As with all regions, the Oregon Coasts' counties and cities are tightening their rules (and quantities of allowable vacation rentals) and there are a few adjustments to last year's regulatory landscape.

Verifying last 2 years of rental history very important!

@Olivia Blake what you are running into is a tenant how has been a long term tenant.

It was only within the last 30 years has the upper middle class incomes start to spread out of the lake.  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I knew that we were going to have a lot of back and forth, and that there would likely be a problem at some point that we would need to solve together.I needed to have confidence that whoever I signed an LOI with wasn’t going to back out at the last minute for a silly reason.

If you are doing long term rentals and raising rents, you will have turnover of a significant number of tenants after their year of renting when you raise their rent.

What are the comps selling for (last 3-6 months)in the neighborhood?

Long story short, he couldn't see anything wrong, but said he would have a lot better idea if he could camera the line during the next clog before it is cleared.