There is quite a bit of inventory now of all sizes (#beds) and price ranges. 

Hope this helps to understand how a lender looks at a rental property's income to be a self sufficient asset.

He probably already knows the range they’ll sell for when finished.  

How did we go from having sufficient housing 5-10 years ago to suddenly having a serious shortage?

FHA Stress Test (self sufficiency test) for 3-4 unit properties.

With that information, I can give you the current market rent range and a general price idea. 

That’s one reason my realtor is pretty confident in the 1600-1700 range.

I do not know Portland so I can not answer that question.What We Are Doing to Mitigate High-Interest RatesCurrently, clients are obtaining pre-approvals for 25% down investor loans at interest rates ranging between 7.5% and 8%.

Also they have influence to home price,DTI and appreciation.In very high home price area, many times due to affordability crisis, only 30 Year is available. 15Y is out of the picture pretty quickly.In medium high price area, for example, 300k-500k price range, and DTI is about 20% ; then 15 vs 30 are two solid choice.The way I look at it again is not from cash flow.

Owner agrees to maintain sufficient and prudent all risks property insurance and that the Manager shall be an additionally named insured.