If a 10 year investment horizon is an issue than this is definitely not for you.  

@Jesse Streng  It’s definitely important to have a dependable person here in the city.

Your main concern should be whether these bedrooms and bathrooms on the lower level are legal and have the proper egress require for fire code and livability.

While I definitely think pics of the arcade and popcorn machine are musts, not sure I would make them my first - maybe in the first few.  

Prioritize properties with strong rental potential and set aside reserves to handle unexpected costs.Finally, familiarize yourself with tenant laws in your target market, especially in Portland, and consult a real estate-savvy CPA for tax efficiency and legal considerations.

Analysis paralysis can definitely be tough to get past but you got this!

Yes it's definitely legal, and I've sold a few this way.

It is by definition not latent. 

They can and will fine you heavily and order you to remove it completely if you don't go to them first and ask for an inspection and do what they want to make it legal and permitted.Don't try to "get away with it".Be a businessman and fix the problem the right way.

However, I’m unsure of the actual process of paying myself as a business owner.Here are some questions I’m hoping to get clarity on:How do you legally and practically pay yourself from your Airbnb income?