Purchase price: $290,000 Cash invested: $100,000 Sale price: $549,000 4 Bedroom 2 bath house bought from an estate in a great Broad Ripple location.

I'm just purchasing my first STR.

My plan is to stabilize the side I purchased with cosmetic rehab (flooring, paint, cabinetry) before working with the owner of the other side to purchase it and do the same.

The most common approach to purchasing US real estate as a Canadian is by utilizing an US LLP or LLLP, with the investor as a 99% Limited Partner, and having another entity (such as Can Corp or US LLC) as the General Partner at 1% to limit liability exposure.

Hi Ian, What is the purchase price for this property? 

If not, have you considered using a 1st Time Home Buyer Down Payment Assistance Loan or Grant to purchase a small multifamily property that you can also live in?

I haven't purchased anything over a couple hundred dollars from the gurus in many years and I haven't purchased Josh's program either, but it also caught my eye (or ear?).

There are plenty of transient markets in Florida where the supply of median home priced properties can cash flow well but it would make no sense to purchase a luxury property in that market. 

After reading the new law I do think the original investor will have the opportunity to purchase the property at the high bid amount. 

I am in Portland as well it can be a hair tricky to manage there are some rules about asking tenants to leave there are also limits on rent increases see below: https://www.portland.gov/phb/rental-services/renter-relocation-assistance#toc-when-is-a-renter-eligible-for-relocation-assistance-Have you already purchased the property?