Since you are already familiar with house hacking, I would consider converting your current home into a rent-by-room or whatever it takes to keep it as a long-term rental, then look for another home you can hack.

@Keith Angell What are your long term goals?

I have read the book on long distance investing and still am not too confident to get started.

However, I probably would not upgrade it but I would rent it out LONG TERM at least until you know your long term status in Portland.  

My lease requires professional carpet cleaning, which would cost more than $500 for a home of that size.Yes, it's reasonable to reduce the cost because she was such a long-term tenant.

@Jordan Meltzer congrats on the mid term biz and your success. 

HELOC= short term useFixed (first or second) = long term use like a down payment.  

Hey all,I have been listening to Bigger Pockets content for maybe 4 years and finally have removed myself from some side hustles, have the capital, and grew the...brains to start real estate investing.QUICK BIO:I am based in New Jersey, I work as a marketing/efficiency consultant, and have 2 avenues of real estate investing:Short-Term Rentals: I have 3 short-term rentals using my parents apts in NJ ( 1 of them just launched in Nov) for the past 2yrs near NYC (1 of them just launched in mid-Nov).

While short-term rentals in areas like Kissimmee, Florida, can pay for themselves and offer lifestyle benefits, the ROI typically doesn’t match what I see from my traditional portfolio of long-term rentals in North Texas.That said, short-term rentals can still be a great choice, especially if you're drawn to the area and the opportunity to combine personal use with investment income.

There's a lot of people right now that don't qualify as you have pointed out so we will cut deals for longer lease terms for those individuals that do qualify.