Consider how your property would do as a LTR and underwrite those numbers (worst, middle and best case).I am very happy with my investment but it has been a lot of work and many challenges managing it from California.

But if do a BRRRR from far away that's risky too, without a really good and trustworthy team in place and lots of checks and balances (security cameras, someone local to check on your property) and the ARV and refinance aspect can be challenging.  

Did it improve results here?

.: Quote from @Chris Seveney: @Dana YobstBlows my mind how he is out there still teaching classes and going on as nothing happened but it sounds like these debts are not getting substantially paid down.As many of us know, one of the main reasons he's able to continue on is with the help of this other self proclaimed criminal https://weclosenotes.com/ep-nc-03-protecting-yourself-using-a-corporate-veil-with-aaron-young-from-laughlin-associates/ Using a remote entity to limit liability is a life blood of insuring investment into all types of job creating, life saving and life improving business development.  

I got a lien on the house they were flipping, all looked good on paper, then I found out they were using my $60K to improve their personal house!

I think the most important part is a willingness to learn and succeed plus just knowing your goals and pushing forward towards them.Each market has its challenges and PDX area is no different. 

However, if you’re just a W-2 with no STRs or REPs, it’s going to be challenging to reduce that tax via real estate. 

I see what you’re saying about cash flow, and I agree—rising prices are a major challenge for investors and buyers.

Just be mindful of the demands and challenges it entails.Best of luck with your venture!

If the goal is replacing income, cash will allow you to get a better deal on the buy, cash flow from day one, and you can still set capital aside for improvements/capex.