If you think you'll only do it say, 5 times, then wouldn't you be better off (comfort-wise) just renting out the non-rehab rooms while living/rehabbing inside, which is sustainable?

I may eventually consider investing in a long distance market, but I think I'd like to get my feet wet locally so I get comfortable with the process in a place where I have more resources and access.Does anyone have any suggestions on what markets in the general Portland area can potentially provide cash flow through single family rentals?

I would be comfortable trying software with just a few vanilla rentals. 

@Kelsey Mortimore find deals that you are comfortable with, even if there is a drop in RE prices. 

Usually that comes at a price of a lower commission split. 80/20, 70/30 or even less % to you until you feel comfortable.

I kept the addendum I used and just added a couple sentences that made tenant comfortable while still protecting me.

However, I quickly realized (with the help of my wife) that before we could comfortably start investing in real estate, we needed to make some significant lifestyle changes.

If you aren't able to comfortably and confidently establish values in any given area, you may want to ultimately avoid it to save yourself a headache and $$$ in the process.

Because we’re pretty comfortable with this tenant, we would prefer to not use an agent to save on the commission.

Reports of child abuse are down 40%.