Although I do distinguish between condos and townhomes.... condos I am not a big fan of because of more common walls and potential problems and expenses.One thing I am curious about, you said:Townhomes can appear in a pro forma to show a lower return, but holding long term returns are much higher than a single family home. 

What we paid for a property is completely irrelevant after the closing day....what matters is the current equity and the forecasted future returns relative to alternatives.Many investors use forecasted IRR and they frequently subject their EXISTING properties to their ACQUISITION criteria. 

I'm in the Marines.I have been extremely lucky to have a wife that makes a good paycheck and has been raised to save.Huge fan of the idea of house hacking.

I've disturbed the soil frequently.

While I am a huge fan of 1031 exchanges and many of my clients use them, @Corby Goade has a strong point on keep the cash flowing property in Portland. 

I recently started using the website although I’ve been a fan of the podcasts for awhile now.

I took over an existing tenant who frequently asks for repairs, or has complaints about the property.

I am a long time lurker of the BP forums, and huge fan of the podcasts and blogs.

I monitor the Houston forum, so I have read many of your posts - The primary theme I see in your posts is that you generously offer your time and expertise to new investors and allow a group of new or wannabe investors the opportunity to walk your flips and tag along with you while you are looking for or working on a project - very generous of you - I see that you were able to give an amazing opportunity to a new investor when she may have not had the confidence to move forward on her own without your guidance - I am a fan of collaborating with other investors when you do not have the funds to complete a project on your own ... it can be a win/win opportunity that otherwise would have to be passed up ......However, when I read the details in this post, a few things come to mind - it seems that you used very little of your own money ...$5,000?

I've always been a fan of using 75% of first mo + 10% for 11 months and doing lump sum vs monthly fee for calc.