I am in Portland as well it can be a hair tricky to manage there are some rules about asking tenants to leave there are also limits on rent increases see below: https://www.portland.gov/phb/rental-services/renter-relocation-assistance#toc-when-is-a-renter-eligible-for-relocation-assistance-Have you already purchased the property?

I wish you well (I really do mean that - not rooting for you to fail). 

You typically get better terms with purchase money vs cashout refi as well.

These are good working class rental areas that can perform very well.

Hope everyone has been doing well halfway through the 2024.

Josh,Well except for the 4 items you mentioned, then it's a walk in the park....

:)  well this is a long list.1.

I'm a newbie as well.

I guess it comes down to whether or not I can save for both - down payment and costs for my personal residence as well as an investment property.

What we find is that owners in your position can do well in a set of ideal circumstances:  the home is in great condition, they find excellent tenants who treat the property with care, and nothing crazy happens.