You need a place to live no matter what, and I can't imagine rents are very cheap in Portland, so you're usually better off at least having the benefits of a little tax writeoff and mortgage paydown while you own, plus being able to paint the walls the colors you want, etc.I'd hang tight if I were you, see if your market goes up a bit more over the next few years (which I personally believe many will, just my professional opinion,) and try to refi and dump your mortgage insurance (assuming you have it) as soon as possible.In the meantime, hang onto your $50,000, keep growing it, and wait for the right deal.

Standard repairs (bathroom, paint, roof, electrical upgrade, clean up etc.).

From what we understand it just needs some paint before we could rent it out.

Once all the dirty work had been done and fresh paint put on the cabinets and walls it looks like a brand new place.

So I think there is a good opportunity of you are willing to deal with some cosmetic upgrades like painting and flooring and later tackle kitchen upgrades.

From the pictures, the units look to be in good shape with updated hardwood, paint, and appliances. 

They should be taking care of all of the big-ticket functional items - roof, hvac, water-heaters, plumbing, electrical, flooring, sinks, tubs. etc.If they are just throwing down paint and carpet, then you'll probably have a high capex in the next 5 years.James

I've tried looking up the potential liability of a Salesperson in the line of doing normal work.There are a number of tricky things, especially here in NYC.Just to give a clear example, let's say your client is a Buyer and you are showing him a Property built in 1960.According to the the EPA, the Buyer should be presented with a Lead Paint Disclosure when purchasing any property built prior to 1978.If a Buyer never receives this disclosure, buys the property, then later discovers there was Lead Paint, then sues.... who can he sue?

So I'd check with city code book and see what's required,, all that humidity has to go somewhere,, and inside isn't where it belongs.Even if it was a private home,, the amount of moisture staying inside is bad for your house structure,, mold issues, paint peeling, rot, over time it will become a bigger problem

It's a bank-owned property that needs new carpeting, paint and a good cleaning.