Good time to be a home builder with 12 under construction and 4 pre sold... sure beats being a seller in 09 and 2010.PDX is uber competitive on the fix and flip side of the coin.. but people do it every day.It finally dawned on me to go for larger deals.. less competition and I can work in the same spot for a few years. 

Millennial buyers are still a bit non-existent due to affordability gap and the tendency to rent, but when they have the money and start buying (5-10years) I think Oak Cliff will be one of the spots.

@Alexander Baez Parroting what Brie said, you're in the right spot.

This is key, but again, if you DIY PM 1st, you'll learn this very quickly and know how to spot it in a PM you hire.

In addition to my real estate income I work at Sleepys (mattress store) which brings me to about $75,000 per year, but because my job is commission based I need to show 2 years of consistent employment in order for the banks to consider my income which leaves me in a tough spot for a loan.

James is spot on...his last 3 words should be the first 3 words!  

Even if you don't do the work yourself, you'll have a good handle on costs and spotting potential problems.

You are spot on - if you take care of the tenants they will take care of your property. 

At least scrape/sand the rusted and chipping paint spots first.

These can usually spotted because the price is very low compared to other rentals in the area.Apparently enough people fall for this to make it worthwhile for the scammers.