We eventually plan on adding more properties and its not whether we should or should not create an llc, I believe we are set on it.

I believe it’ll come back so maybe monthly rental is the way to go for the time being.

I’m open to any advice, recommended resources, or lessons learned from your experiences.I believe that growth comes from community and shared knowledge, so I’m here to both learn from you and contribute wherever I can.

Believe me, the longer you hold the more your expenses will grow.

I'm a big believer we should invest with a 5-10 year outlook. 

As a MF agent who spends a large amount of time calling apartment owners (or rather, numbers purporting to be apartment owners), please believe me that reaching out to random run down buildings owners is unlikely to get you any deals.

I do believe we have a good property manager and the photos and description of the listing are well done, so not sure what else to do at this point.

Try not to fall into the trap of believing those gurus or comapring yourself to people you hear on podcasts.

I believe you had a much better-than-average result here.

Consider different strategies like mid and short term rentals as I believe the Portland area would allow for success in both (although I have heard Portland proper is tough on STRs).Best of luck!