In a round-about way, I'm asking for help and looking to see if I should completely back out of this or if there is someone in the Portland area willing to help out a newbie and gain a property along the way while also increasing your network. 

Another pro can be that neither accountant will likely increase the bill to you from year to year in fear that the other accountant can steal the business.

Taxes, IRS, other factors may still hold, and truth is, I don't trust the government office to provide full color on title.  

So hypothetically if I get 3.5% down on a $100,000 home then put $5,000 in repairs and increase the value to say $120,000.

PROPERTY INFO4 BR, 2.5 BA near Little Rock, AR$31,980 cash purchase (20% down, 30-year fixed)Property valued at $159.9KINCOME: - Rent: $1,295/mo (Year 1), with $50 monthly increase in Year 2 EXPENSES (Total $1,230.61): - P & I (30-year fixed at 4.75%) $667.29/mo - Property Management (10%): $129.50/mo - Property Taxes: $163.67/mo - Homeowners Insurance: $50.40/mo- Repairs/CapEx (10%): $129.50- Vacancy (7%) = $90.65RETURNS: - CoC = 2.42% @ $64.39/moQUESTIONS: 1.

Unless you advertise it, I highly doubt any potential tenant will be able to tell the difference if the colors match!

When running various rent price (income) scenarios to see the impact on your monthly cash flow, you are "penalized", in a sense, for increasing the rent price.

And thanks for the pointer @George Blower - I'll take a look and see if that increases my options!

For the most part,  the intentions are noble,  and in some areas like seattle,  issues of affordability are increasing and very real,  even to people with good blue collar jobs.  

This will increase the sellers transaction cost which will increase the purchase price.