Todd,  I think as it relates to the Portland metro area.. we are seeing a ceiling for sure on rents..and I see move in specials I saw a sign offering 400.00 referral fee for a new tenant.. ( which not sure how they can do that legally speaking).. and I know some of the new A class product is stressed in our area.. simply because the projects take years to build and build cost now for a metal glass elevator building is 400 a foot or better.. and expected rents on those units have dropped not risen..

Also, I'm considering looking into an elevation certificate to remove the property from the flood zone. 

Joshua Lawrence with Elevate Investment realty is great.

Rents seem to be elevated here compared with many markets.

Took my kids to the courthouse in Carthage where they have an old school elevator, their minds were blown. 

Call an insurance agent and get a quote for flood insurance.Also if the house is in the "flood way" you can't build anything.In the flood zone, if allowed to build, some localities have strict standards than the Federal laws, you have to build ABOVE the flood zone by elevation. 

It's the first step in the flood zone analysis, then possibly having to get an elevation certificate.

There is also probably 20' of elevation change from the building site to the road frontage.  

I'm always open to networking with people who are passionate, motivated, have a purpose and genuinely enjoy helping one another elevate.

Fellow BP'ers: I'm part time real estate investor looking to elevate my investment strategy into multi family.