Been doing it for 15 years and made plenty of mistakes along the way, but the cash flow keeps me going.For appreciation, look for units that have problems that can be fixed economically. 

The home has plenty of space for first time home buyer with larger den area.

@Ree Somes I've had plenty of crazy experiences with hiring other contractors myself.

Joe,As a Local Realtor, in your market, I can tell you there are plenty of investors throwing out low-ball offers on every property that hits the market.

I've seen plenty of condos where the fee is $200+/month, they offer no amenities, and the entire complex looks completely run down. 

Make sure to be present and make use of their time with plenty of questions.  

They have plenty of free trainings, through their tutorials on how to best use their features.

While there are plenty that allow long-term rentals, there's only two that I know of in the Portland Metro area that allow for short-term rentals and they're both out north near Scappoose. 

Credit in 700s, plenty of reserves in retirement accounts to cover 2x purchase price.

That being said, I know of plenty 4-unit properties for sale in that same price range that are in C-D areas so $1.1M in an A area sounds like a slam dunk but I'm sure its been on the market this long for a reason - i.e. poor interior condition, non-cooperative tenants, title issues, etc.I'd be happy to help you look into this deal a little further.