All are local to me in a non-vacation rental spot.

Good writeup, I think you are spot on. 

For property selection, choosing a duplex or triplex in a good neighborhood can provide steady cash flow, while adding an ADU to a single-family home works well in areas with high rental demand like Portland.

BP has built a great selection, all of them worth reading and that will help you build foundational knowledge.To answer this one: the words from old school investor Dolf De Roos "seldom sell" and you will find a lot of post on BP from people who regret selling properties in the past.

That’s part of what drove me toward the luxury angle, catering to a niche market that’s currently underserved.Your point about local demand alignment is spot-on.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I've been a solo broker for well over 20 years and can spot a serious buyer/seller very quickly. 

Also I have done it in the past whenever I had a change in plans and they never had the opportunity to actually be selected. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Once this is determined you can select the best neighborhood and asset that fits your capabilities.