MInd you, we've gotten really good at our scopes of work and we have one of our GCs go through the property with us to give us our scopes of work.

. $150 cash flow on any rental especially a triplex is dangerzone imo. 1 month of vacancy of 1 unit could destroy a years worth of financial gains.  

@Jordyn Ohs Assuming your heloc is re-advanceable and the rate is higher than your mortgage, I would suggest you pay your HELOC down as quickly as possible with any cash flow from the properties.

One thing you don't want to do is to buy based on proforma and have a negative cash flow property, especially on your first deal.

Since you can’t do a formal inspection, a detailed contractor walk-through and phased renovation estimate are key.Have you considered checking city records for past permits to uncover any unaddressed issues?

I think access is a major stumbling block to the Oregon coast. its just a long way from everywhere.. and the amenties as you state that are missing.Its super popular though for Oregionians no doubt.Keep in mind though from Jenner CA north through Ft.

First time investor, looking for cash flow.2.

So, you are working through 2 decision makers, not one.A Realtor can really provide you value in a transaction....especially your first one! 

Way better returns on the cost seg than you'd ever cash flow from an LTR. 

The software steers you through most of the data entry.