Typically those purchasing cash aren't inspecting every home, they're walking it or having their go to GC walk it and already know what they see that may be a concern. 

Purchase price: $70,000 Cash invested: $60,000 Sale price: $70,000 Have under contract for $70K and will rehab.

@Vinny MuliIf you have equity built up, can you do a cash out refi?

Additionally, the fact you might be negative cash flow in Texas will give you more flexibility by renting in Portland.  

I could do it 2-3 based off cash savings.

Just wanted to mention that the cash out refinance funds are not tax free forever.

I'm also seeing lots of homes for sale that were used as Airbnbs, so I'm wondering if that along with these numbers may indicate it's an overly saturated market, and if these are signs that maybe I should keep searching for a stronger market, or just a property that cash flows given the average annual revenue?

Do you guys use hard money lender for a rehab or use your own cash?   

Most ideal would be seller financing, but open to creative strategies for a cash-flowing property. 

Cap Rate, Cash On Cash Return, then IRR.