But my other unit is less than a mile away with three units and it costs $100 a month for those three.it’s absurdly high. 

The property aggregators (Zillow) etc are good for high level comps but miss key details such as concessions & amount, private remarks about the property that materially impact value (for ex. solar panels are leased w/ 20 years remaining) and limited pictures of the property.  

Looking for high equity growth areas is a bit of a gamble.

Best bet would be a “partnership” with a monied individual looking for a high risk/high return passive investment with you providing the “active” part.  

Look into high-demand rental areas like Pine Hills (near colleges) or Delaware Avenue (affordable multifamilies) and consider the BRRRR strategy if you're open to rehabbing properties.

I'd highly recommend you hire an excellent PM once the unit is ready.

I would highly recommend your son reads "Rich Dad, Poor Dad" by Robert Kiyosaki.

In Oregon you can kick out who ever is living there unless the federal law regarding arms length leases comes to play..

A deal this small wouldn’t make sense as a partnership unless the original intent was to scale and grow together assuming this deal works out.In regard to the financing, if you can’t get it on your own without someone else’s balance sheet and income then it would be very difficult to untangle that partnership since he’d be a personal guarantor right along side you.  

Best option: don't invest in areas with high crime.Security cameras, motion-detecting lights, and plenty of signs that it's protected by a security system.