In short, it's one giant pain.

Try to find ones that are within 6 to 12 blocks of your "subject" house.I have found real estate agents will differ $50,000 on the same house.

Maybe others that have gone through this can speak more to it but if it is with the City of Portland then expect that to be a pain and to cost a lot with the gamble that they don't approve it.4.

It's a pain but nothing worthwhile happens without work,

"I assumed rents of $400 for the small rooms based on a discount from $650-1000"I own a 2/1 SFH three blocks down from this property, non-rehabbed I get $445/month.So $400 for a single room in a group home sounds high. 

are there other residential property(multi-family) on the block?  

here in Australia on blocks of units (condos) there is often an extra postbox titled "Secretary".

I added a lot of stucco to the outdoor walls $200, cabinet lighting in their kitchen $300, fence,pergola for deck that blocks neighbors view, $200.  

Learning to raise and organize money is hard and it takes a lot of time.Joel Block's Dealmaking Symposium is some of the best training in the country on learning the ACTUAL syndication business.  

@Russell Gronsky I know I'm late to the game here, but commuting from Fells or Canton would be a pain in the *** because you'd have to either go through downtown/inner harbor OR pay to go through the tunnel on the East side.