The second guy only saw photos and quoted me for $2,500 but was actually unaware of the additional light switch move.

Senate bill 608 for referenceIf the specified ending date of the fixed term is within the first year of occupancy, landlord may terminate withoutcause by giving the tenant 30 days’ notice prior to the specified ending date for the fixed term, or 30 days priorto the date designated in the notice, whichever is later (90 days in Portland and Milwaukie).

Or would it be best to have all four individuals on the actual lease agreement itself?

If you're counting mortgage principal as expense that is actually part of your profit.

Yes i've actually already done some of that.

If during the next 2.5 years, the owner redeems the property i get the money + interest back, but lets say they do not redeem the property. 3)  Within the last 6 -3 months of the expiration of the redemption period, I will file a petition at the circuit court for the tax deed 4)  At the same time, after filing the petition for deed, I will need to send "Notice of Expiration of period of Redemption" Take Notice to the county so they can mail it to the home owners and any interested parties informing them to redeem asap. 5) I will subtax early the following taxes as soon as they are generated by the county. 6) Inform the property owner in three ways, certified mail from the Circuit Court Clerk, being personally served by, the Sheriff’s office; and notice being published in a local newspaper. 7)If the taxes are not paid and the last date to redeem passes, the tax buyer can apply to the Circuit Court for an Order directing the County Clerk’s office to issue a tax deed to the tax buyer.

You will need to supply 2-3 quotes from different General Contractor's or licensed builder for all work.Some things that can occur are builder/vendor issues with lack of inventory, broken material, employee "no shows", date of completed work extensions, bad work, additional costs not factored on blue prints or cost analysis, delayed permits.Keep in mind any delays or issues will slow down your clear to close/funding date.

You might be actually underwater on it. 

One of them sold in days because it is along a major bike path but was otherwise a dated house on a rough street. 

I like house hacking to start because it gives you a better idea about whether or not you actually like being a landlord without getting too much money invested in 20 million different properties.