These days the hardest part for me is finding & keeping qualified contractors for the work that always needs to be done.

This factoring includes the presence of competent contractors who can limit unforeseen surprises and costs.Myth 2: They're Too Risky to Invest InThere is risk in any investment; however, distressed properties are not inherently riskier than any other real estate investment.

I'm not sure why not - one of the great parts about real estate investing is that you can build a team around you for aspects you aren't as strong at or simply want to delegate to someone/expert and do the others yourself - look up "Core 4" for example - where you can have an agent, lender, manager, contractor all at once for your investments and can theoretically just let them do all the interactive work

I individually priced all my materials and got several estimates from contractors.

Real estate agents, property managers, and contractors who specialize in your target market can save you time and money in the long run.

I have a few brand new homes popping out of the ground in Canby Oregon.. msut of Portland proper is very old the new builds tend to be skinnies or expensive . 

If they are, I would pay them off first.I would invest in a different market(likely bigger market) where you can find reliable contractors or find a PM that will be able to manage the properties.

My goal, over the next five years, is to utilize real estate in lieu of my current hourly consulting income, by building a portfolio of rentals.  

I view real estate investing as another wealth building tool in my tool kit.

Build on both?