This is a program where 1st time home-buyers who make at or under a certain % of the area median income (say 80% or less for example) qualify to apply for the grant, certain banks receive grant funds so you would need to ask your bank if they participate in this programRehab costs: $40,000 (lot of sweat-equity)Appraised: $385,000NEW PITI $1785/month: Refinanced into a loan of $260,000 ($325,000 with 20% down, 30 year fixed rate portfolio loan @ 4.375%) and pulled out $61,000 ($260,000 minus $191,00 owed on old loan minus $8000 closing costs) I could have taken out a higher loan (due to the appraised value) and received more cash-out $, but I wanted to be conscious of what my new PITI would be and make sure I could cash-flow going down the road.DetailsBefore Renovation- 864 sq ft - 3 bed 1 bath ranch style home, , attached 2 car garage, 1/3 acre yard- Purchased foreclosed for $220,000 with a 30 year fixed rate loan @ 3.875% - PITI $1385/monthI worked with my local bank to build in renovation funds into the actual loan, where I would pay to have work done to improve the property (new roof, heating system, flooring, etc) and the bank would inspect the work then release funds to me to reimburse for the cost of each repair as they were madeAfter Renovation- 1278 sq ft (finished basement added 415 sq ft)- 3 bed 2 full baths- Appraised Value $385,000The first 6 months in the property was spent doing new roof, heating system, refinishing existing hardwoods (hidden under grey shag rug), new SS appliances, new paint inside and out, finished basement (added another living room, office/bedroom, and full bathroom)For the refinanceI was quoted by my local bank for a 30 year loan a 4.875% interest rate. 

Plan on the frugal lifestyle and pay back your secondary funding QUICKLY.

If the property is 2 blocks from a university, in a block that is largely populated by students... rent rates will likely reflect student lifestyles.

They make excuses(consciously or sub-consciously) as to why today isn't the right day for them, why they can't find enough money to get started, why they can't find the right property or they justify why they can't begin the process.

They make excuses(consciously or sub-consciously) as to why today isn't the right day for them, why they can't find enough money to get started, why they can't find the right property or they justify why they can't begin the process.

I have actually posted here prior to, but got caught up in the 9-5 family lifestyle ...

Quick Background: I've been fairly successful in other areas of life and recently determined that moving towards passive income is the best way to achieve my financial/lifestyle goals.- I currently have 2 SFH properties- I have an LLC formed, but currently don't have any properties under it.

Sounds like you've read through some of the posts about screening tenants - some may translate to your situation some may not, give it a re-read and it may hit you like a ton of bricks that - that is just the question I need to ask - write it down in your bullet points.Sounds like things are pretty crazy with moving out and whatnot, but do get your pictures together as soon as you can, even if you have to shuffle the mess from the kitchen - take your pics, and then move all the mess back into the kitchen to take pics of the living area...I'm sure that'll be a PIA, but will take your mind away from not having the pics up in the first place and ultimately feeling self-conscious about not.  

Sadly, living in Manhattan and California all my early working years and through my 20's (ridiculous rents and millennial lifestyle...) has left me with little opportunity to save, let alone save anything remotely close enough to a downpayment in areas where studios and 1 bdrms start at well over half a million dollars...This being said, I'm very interested in learning as much as I can about real estate (especially on the smaller scale - such as SFH and perhaps duplexes...).

Well many people Love PDX for the life style , Metro and cities have artificially crimped supply.. and that is not changing anytime soon.