It could swing by $1000 in closing costs and by 1/4% which is significant.Note if you put less than 20% down you may need to pay mortgage insurance which is like an add-on to your mortgage and you need to make sure the loan you get will allow you to cancel that PMI when you have 20% equity.   

Renting a home in Portland is as easy as putting up an add on Craigslist and talking to a couple of people.  

Is there perhaps a checklist anywhere or any way BP could add one??

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

I think you could add one thing to the list.

Keep in mind that bathrooms would be an add on in most of these.

2/1s on large lots are a good opportunity for a value add... buy the underpriced spec and add on a bed and bath, now you have a 3/2 at a much lower all in cost in certain areas.Maybe this makes more sense for flipping... never attempted it on a rental.

I literally received 20 calls from the time I posted the add on line (8pm) to lunch the next day.

If utilities are included and paid by the landlord then you can go up to 60% sometimes.The purchase price would then be 340,800 at a 10 cap.There could be value if the rents haven't been raised in a really long time to keep it full and you can increase the yield that way.Also if the property sits on premium land or spread out with extra land for development you can add on or sell to a developer for higher density or re-purposing at a premium.

Kody Fordyce how many properties do you own here in Oklahoma?