I don't know what classifications you are looking to invest in Portland but west coast.....Dead end to me unless you have a lot of capital. 

It's a 5 plex but city officially sees it as a 4 unit because when the original owner filed the paperwork that was the classification given.My seller tried to get a variance, but city said they wouldn't qualify.

To expedite I'm wondering if wholesalers exist and are active in this asset class? If

Sadly, only one out of 300 cases under audit for the RE Professional classification will make it through an audit.

.* Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)* Don't allow for your own independent property inspection* Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors)* Require you to pay for any renovation upfront* Sell only in cheap. low end neighborhoods* Don't accurately represent the neighborhood/property classification* Don't have consistent rehab standards for all properties* Don't provide a scope of work for the property* Can't provide references of repeat investors* Require you to close before a tenant is in place

If your rent to price ratio is south of around 1.4%, long-term profits could be lean.Most B- locations have appreciated over the past ten years; so, you may want to evaluate your classification.

Based on labor laws for some employment classifications, being "on call" to be available to respond is considered time working and payable.

Based on labor laws for some employment classifications, being "on call" to be available to respond is considered time working and payable.

You need to understand the proper classification on the balance sheet.

The NWI classification means absolutely nothing from a regulatory perspective and is notoriously spotty in accuracy, but it's a good first hint that there might be something there to look at if it shows a feature.