So I am a little bit uncomfortable making the deal with a tenant who is pretty much an unknown quantity, at least from my perspective.  

An assessment could very much be the same as having to repair an unknown leak or a foundation issue.

We may be one of the few that still believe in the long term value of property/rentals in Portland and I do look forward to building in the future (hopefully), but at least with the current unknowns in building costs...

Kyle / Temple, Texas) My thought logic, understanding the plethora of unknowns (delayed inflationary impact of continuous QE from Powell and impending foreclosures from eviction forbearance, etc.)

I feel like I’m walking into the complete unknown when it comes to passive investing.

The practice of using a single calculation based on TODAY's Purchase information is setting yourself up for a world of hurt if you don't get lucky enough that the property maintains it's cash flow and capital expenditures through the holding period.When it comes to the IRR, you project it out for 10 years and you include every single known and potentially unknown cash flows including the anticipated fix for the structural damage.Why would you do it any different?

To summarize with your numbers, you'll need $15K (down payment), $15K (repairs), $5ishK (bridge loan costs), $2ishK (refinance costs, if you don't roll them in to the loan), $2ishK (holding costs before revenue generating), and to be on the safe side I would throw in another $5-10K for the unknowns.  

This will earn  you higher rewards than jumping into an unknown area.

Otherwise, it would be legal to be here unknown (who knows, maybe it is). 

They bridge the gap between the unknown of how to get started and the successful real estate investment operation.