I also think getting a Line of Credit is a reasonable option depending on how you use it but just receiving an regular old fixed rate loan is a pretty simple enough way to go.  

Doing regular inspections is also good so you are on the right track. 

Being able to meet virtually on a regular basis is easier than ever.

As regular income. 

TD Bank will also make these loans on investment properties.A regular refinance would be the best option for most people, a DSCR (commercial type of mortgage) is great for those who hold in an entity such as an LLC.  

I know they're going to be estimating the ARV for once repairs have been done, but what would you supply the appraiser with to explain everything being done to the property?

Since you are fixing it and updating it, you are able to charge more then what you would have if you didn't fix it up.Also there are a lot of more benefits when you live in the property, than if you didn't, and especially because you are going to be in Portland, you have more leverage on certain things then the regular investor who doesn't live in the property. 

I have recommended this to others and it almost always works well.And it's funny - everything I pay for right now is going up, including on my rentals (insurance, taxes, maintenance, labor, supplies and materials, etc.) - not one time has any of these vendors, municipalities or insurance companies called to ask me how I'm doing, if I'm making more and how I feel about an increase before they do it. 

If you want to invest, study markets, make connections, and keep a regular job or get a regular job to bring in income.

I don't think it is a bubble but rather supply and demand.