This is especially in a high rate/high price environment. 

I didn't see where you factored in a $3000 mortgage payment (principal & interest only) in today's higher rate environment. 

Quote from @Katie Nolan: Here's the Oregon Landlord - Tenant Law: https://www.oregonlegislature.gov/bills_laws/ors/ors090.htmlHere's a handbook that may be easier to understand: https://oregonlawhelp.org/resources/landlord-tenant-law-oreg...If you're going to be successful, particularly in a heavily regulated state, then I recommend you study the law regularly.

I also think that you should plan on looking for a place that doesn't have a lot of issues with regulations etc so you don't have to go that way.A HELOC is a good way to get started. 

Any insights on suitable areas, zoning regulations, or market trends would be greatly appreciated!

The lower building costs and more relaxed development regulations definitely seem like attractive reasons to keep investing, especially with the need for housing growing as people continue moving in.

A $200,000 duplex might have identical rents in municipality “A” and municipality “B” but the property tax rates will vary, local regulations will dictate licensing requirements, labor rates will vary & the particular location will dictate insurance premiums since insurance carriers will weigh local replacement costs and whether the municipality is viewed as being a “plaintiff friendly” in arriving at insurance premiums.Better situated assets will attract better tenants/higher rents & reduced management expenses Tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property.

I think with Boise in particular, and the pacific Northwest in general, positive cashflow is difficult to achieve, especially for an out of state investor since the market is so competitive.Even with boots on the ground, cash flowing properties seem to be a unicorn even when purchasing for 70 cents on the dollar.One opportunity for cashflow in Boise is the ADU play -- new regulations make it more conducive and returns can be 10%+ cash on cash for a property in the right neighborhood.- Kole

If so do you have concerns in today's rising rate environment? 

There is never an agenda, just a bunch of RE junkies drinking coffee and chatting about the market, local news/regulations, and helping each other find their way in the vast world of Real Estate!