You first have to have a good BP, maybe approved architect plans, and ideally an offering memorandum.

Provided you use a minimum down payment and qualify for a owner occupied mortgage this would be the ideal approach.

I tend to think $150K - $200K is the sweet spot where the cash flow is ideal and you can avoid some of the riff raff. 

If I can buy a property in and around LA area (or even 2-3 hrs driving distance) and then both live there (im single, so very basic needs) and use 75% of the property for short term rental/airbnb etc, that would be ideal.

So we decided in lieu of selling our house we'd rent it.It was kind of a hybrid situation with the PM - we'd spent some time developing a relationship - she managed a large 200-300 unit apartment complex and was the head PM there - she was familiar with the tenant as he'd rented at her apt complex for 2-3 years with no problems. 

In such a short amount of time I've developed a passion for the business and love spending every chance I get to learn.

Personally, i spent a bit more to be in class "B" neighborhoods where even though the cash flow isn't as ideal, the peace of mind is worth it.

Dont know what new developments are coming, but there must be a lot. 

Hey Portland friends, I think I know the answer to my question, but I want to double check with those with more development experience.

I have a background in banking, development, technology, and public speaking.