Some folks will argue properties are typically taxed less than their fair market value, and that may be true, but it's the amount of annual taxes your pay (regardless of actual value or assessment) that will affect your bottom line.Additionally, until the recent market correction both property values and rents have increased at a rapid rate.

The marine fog layer and dampness keep trees fairly saturated.

Cannon Beach generally permits STR but one one occupancy per 14 days,  Arch Cape has a similar limitation with one occupancy per 7 days and Manzanita currently has a fairly long waitlist. 

Hi Nicholas,I’m fairly new to real estate looking to learn more and buy more . 

There is some complaints about the smell but that is fairly typical for memory foam when they are first opened up.Others have said you really have to wait at least 72 hours for it to fully expand before using or putting anything on it.EDIT - This is a special buy and has 2 days and 14 hours before it expires. 7% have been claimed so far.

@Helen Rolls , yes, I remember that article about CapEx expenses and it made a big impression on me - I suppose what's "easy" about this purchase/CapEx is that everything needs to be replaced fairly soon (half of the heating system, roof, foundation work, and windows!). 

It is now mid July and he still has a fair amount of work to do.

Again, it's about having the right team to take care of the repairs at a fair price. 

Wow fair enough.

However, the rental market in Canton has been relatively strong, and I believe there is potential for decent rental income probably $3500, even if it doesn't meet the 1% rule perfectly.Cash Position: My cash position is fairly stable, but I prefer to hold onto this property long-term rather than pursuing another house hack immediately.