Five units and above is a commercial property, and is handled differently in the market.

Prioritize properties with strong rental potential and set aside reserves to handle unexpected costs.Finally, familiarize yourself with tenant laws in your target market, especially in Portland, and consult a real estate-savvy CPA for tax efficiency and legal considerations.

From what I’ve heard, there are reputable local management companies in regions like San Antonio or Omaha that handle everything from screening tenants to arranging quick repairs.

Once the interior was stripped and the infrastructure tested, I brought in commercial contractors to handle critical systems like plumbing, electrical, roofing, and HVAC installation.The house, built in the early 1900s, was originally a coal-burning residence.

If you do decide to work with them, you could set up a clear partnership where they’re equity partners and you handle the management and operations.

You need a reserve to handle unexpected costs, particularly during the first 1-2 years of ownership and learning how to manage the property. 

Last I heard, they were planning to expand - as far as I can tell they cannot handle their current workload.The tenant can complain about a problem for months before it is fixed.

Also like I said definitely need to go through an attorney to handle all this Yes I am working with an attorney to get it cancelled.

@Alexandra Cernasov You might want to check Martindale's peer reviews of Aaron Thalwitzer, Esq before you hire him from Cocoa Beach to handle a case in Marion County. https://www.martindale.com/organization/gordon-thalwitzer-at...   

We plan to remove them all to protect from tax increases on our current primary, but I am afraid that now that the other properties won't have homesteads, we may see skyrocketing tax bills and it will eat into already small cash flow from rental income.Does anyone have advice for how to handle this situation other than just increasing rent?