rentometer actually seems to be pretty accurate in my market.

Hey, It's pretty hard to find a multi-family here that actually makes financial sense.

In my market, a multi-family will sell for less than a SFR of the same square footage, because multis are bought as investments and SFRs are bought as primary risidences, so I would double check that you are actually adding value by converting.

I actually do it myself because it is exhilarating...

I Started reading books on real estate investing actually just got fun and it has been growing into something I'm becoming passionate about, I discovered this website about a week ago and it's provided me with tons of knowledge.

If that is true,mother you should have the actual Approval Letter within a week or so, if it has not already been issued.  

Here is what it says:"Upon any failure of Resident to occupy the Premises for the full term of a fixed term tenancy, for any reason other than as provided in ORS 90.453(2), 90.472 or 90.475, Owner/Agent may charge Resident either:---A)all of the following: i) all rent, unpaid fees and other non-rent charges accrued prior to the date that Owner/Agent knew or reasonably should have known of the abandonment or relinquishment of the Premises; ii) all damages relating to the condition of the Premises; iii) an early termination fee in an amount not to exceed one and one-half month's stated rent and which is due on the earlier of the date Resident gives notice to vacate or the date the Premises is vacated; iv) interest on the above amounts at the statutory rate from the date each was due, and v) all other amounts due at the times specified in this Rental Agreement; or prospective buyers or B) all actual damages resulting from the early termination, including but not limited to: i) repayment of concessions; all rent through the earlier date the Premises is re-rented and the lease termination date; ii) advertising and administrative costs to re-rent the Premises; iii) concessions given to re-rent the Premises; iv) the difference in rent if a lower rental rate is received from a replacement resident during the remaining term of the original Rental Agreement; v) damages related to the condition of the Premises, and iv) interest on all amounts at the statutory rate.

The actual definition is "ability to purchase or sell an asset without causing drastic change in the asset's price" though that is just what I said.

The bottom line is that I lack the knowledge of how one goes about cutting down on the actual amounts the City wants - no one ever goes into detail about the execution. 

I've actually done a bit of house hacking myself.