We proposed using jacks and lifting that part of the wall that was missing its foundation piece. 

If you're new to STRs, I'd suggest starting with something very typical for the area.If you'd like to propose the idea I could give you my thoughts.

I did something similar to what you are proposing.

Short answer: Possibly June of this year for full passage.Long answer: The proposal is going to face some open house/public comment sessions.

-To do what you're proposing requires that you have everything set up in advance of the initial purchase - you need contractors lined up for the rehab, an agent lined up to help you get a tenant, yourself or a property manager lined up to manage the property when it's ready, a bank lined up to do the cash-out refinance, etc.

Here is the link to the PDF of the proposed ordinance draft as well as the city's landing page for STRs. 

Do you have a copy of Portland's legislation that approves THoWs in R1 and R2?

@Gina S. what you are proposing sounds very expensive in my experience.

San Pedro-Waterfront developmentInglewood-stadium, NFL Network, proposed NBA Arena, Jr PhilharmonicGardena/Hawthorne-overflow from Inglewood and tech...theres about 5 breweries between these 2 cities and cool places like Base 51 (bar, food, race car simulator)

You are proposing to take the equity yourself because they are desperate.